EURGBP Wave Analysis

• 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
  

Comment:

Comment:

- 5-wave correction on 1Min chart
- 1min Pinbar
- 6 Pips SL