EURGBP: Staying Long
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See previous analysis, which is still in tact.
Technicals:
Monthly pb into a monthly support level (0.8630).
EURGBP is cycling between a 1000 pip price range on a monthly chart since October 2016. A range from 0.8284 to about 0.9306. The price is currently coming off the lows of the range and traveling to the top again.
Weekly bearish equal legs completion or ABCD completion.
Weekly D1 volume suggested that this week another low would get placed in; and, that is what happened today.
Daily a-b-c extension into D point of a weekly Gartley pattern (78.2%).
Daily D3 volume, which suggests some divergence.
Target is the highs of the price range.
Technicals:
Monthly pb into a monthly support level (0.8630).
EURGBP is cycling between a 1000 pip price range on a monthly chart since October 2016. A range from 0.8284 to about 0.9306. The price is currently coming off the lows of the range and traveling to the top again.
Weekly bearish equal legs completion or ABCD completion.
Weekly D1 volume suggested that this week another low would get placed in; and, that is what happened today.
Daily a-b-c extension into D point of a weekly Gartley pattern (78.2%).
Daily D3 volume, which suggests some divergence.
Target is the highs of the price range.
Note
Monthly range: Note
Daily MACD and Stochastic Divergence: Note
Note
d3 vol:
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