EUR/GBP : techs are speaking for themselves
We have been buying dips from .86. I believe, eventually we will take out last years’ highs and will come to parity on this pair. But we have to remember, markets do not move in straight orders, they will always alternate between trending and consolidating. So far, our greater probabilities with this pair are being ” buyers on dips”.
Today we have reached one of the targets we have been looking for for a while. @ .89. Further upside momentum should bring us up higher with the next medium term target @ .8995 ( 50% retracement) followed by .9025 ( 61.8% fib expansion) . Provided these levels are taken out, our next target will be .9175.
Only the close below .8725 will reverse the daily momentum and will bring more bears into picture.
Please, see the chart attached and trade accordingly,
Lea
