EURGBP seens to be in a major consolidation between 0.9150 highs and the 0.8320 lows since July 2016.
Currently, EURGBP looks to be forming two harmonic patterns. A bearish butterfly which has a PRZ between 0.8980 - 0.9050 ( I will like to see a push higher but I will not be surprice that price starts to turn around as we arein potential fib ext zone AB. If price breaks 0.8880, the move to the downside could potentially start.
In the other hand, the second pattern a bearish crab indicates that price could be making a move higher to the PRZ (0.9043 - 0.9100).
These two patterns show that we should see a final push to the upside.
My final PRZ will be the overlap of the two PRZ (0.8980 - 0.9100)
Currently, EURGBP looks to be forming two harmonic patterns. A bearish butterfly which has a PRZ between 0.8980 - 0.9050 ( I will like to see a push higher but I will not be surprice that price starts to turn around as we arein potential fib ext zone AB. If price breaks 0.8880, the move to the downside could potentially start.
In the other hand, the second pattern a bearish crab indicates that price could be making a move higher to the PRZ (0.9043 - 0.9100).
These two patterns show that we should see a final push to the upside.
My final PRZ will be the overlap of the two PRZ (0.8980 - 0.9100)
Trade active:
So Far so good
Comment:
Now that I have a D point, my target is 0.618% retracement of CD
Comment:
price back to the entry point, still holding as nothing has changed