EUR/GBP is limping towards north with subdued momentum.
The brexit uncertainty is set to continue for six more months. Hence, the pair is unable to find a trendy move.
Technically, the pair formed an ascending triangle pattern and broke its resistance of 0.86543.
Since there are no fundamental triggers to act in this counter, it is set to hobble its way to the...
EUR/GBP is in its bear cycle, according to Elliott wave.
It has completed its wave B and has also formed a bullish engulfing candle near the support zone.
Hence we expect the pair to be bullish and commence its wave C from here.
On weekly Chart Eurgbp has taken resistance 3 times from 0.91000.and Price has formed bearish engulfing candle too with long wick which suggest sellers are in control now. I will enter only if price breaks the Important level of 0.89200.
Looking to Buy EURGBP as its in a uptrend. We have seen price break previous resistance and now testing the new support. We can see price bounce up from Buy range or the 200MA. Target is 0.90500 (60-70pips).