Yesterday we showed the long-term count for EUR/GBP and today we will do a follow-up for the short-term count.
We where looking for EUR/GBP to peak near 0.8903 and we have seen a high of 0.8932. what we need now is a break below minor support at 0.8818 as the first good indication that wave B has peaked and wave C lower to 0.75 is developing. A break below support at 0.8741 will confirm the completion of wave B and the onset of wave C.
R3: 0.8932
R2: 0.8910
R1: 0.8890
Pivot: 0.8863
S1: 0.8837
S2: 0.8818
S3: 0.8741
Trading recommendation:
We sold EUR at 0.8900 and we have placed our stop at 0.8950