Cyber Monday saleUp to 70% OFF
Euro / British Pound
Long

EURGBP Wave Analysis

By Phils_Ocean
Updated
  • EURGBP sits currently at Channel trendline around 0.85300 with acts as strong support
  • Last week we got first move to the upside with set new highs on 1h/4H
  • Yesterday market corrected strongly in 5-Wave manner to 89% Fib Level

  • We have an engulfing pattern on 12H chart with retest of falling inner trendline
  • Price already moved 40 pips to the upside since this morning

  • Watching for correction to end so we can get early into the next upside move
  • Target +200 pips
Note
snapshot
Note
- 5-wave correction on 1Min chart
- 1min Pinbar
- 6 Pips SL

snapshot
Elliott WavepriceactionTrend Analysis
Phils_Ocean

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