Dmitriy Chernovolov, Technical Analyst who has been actively following the FX markets for the last 11 years. He uses a systematic trend following approach combined with a proven money management system. Dima prefers to combine multiple technical analysis tools (e.g. Fibonacci retracements, trendlines, indicator divergences, Japanese candlesticks, Elliott Waves as well as horizontal support and resistance levels on different time-frame charts) to identify high probability synergetic trade setups with a high reward/risk ratio.

EUR/GBP broke strong resistance level 0.8700

  • EUR/GBP broke strong resistance level 0.8700
  • Next buy targets - 0.8900 and 0.9000

EUR/GBP has been rising steadily in the last few trading sessions inside the minor impulse wave (v) – which belongs to wave 3 from the start of September. The price earlier broke sharply through the strong resistance level 0.8700 (which stopped the previous minor impulse wave 1 in the middle of August) – which intensified the bullish pressure on this currency pair.

EUR/GBP is expected to rise further in the active impulse waves (v), 3 and (3) (which are a part of the primary impulse ③ from May) toward the next buy targets at the resistance levels 0.8900 and 0.9000.

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