Long-term and Short-term Setups

[Jaycee]

EUR/GBP Wave Analysis

1. After dismal data from Britain, EUR/GBP was off to the flyers yesterday.
2. It could be interpreted as a wave pattern and is now forming wave 4.
3. Further, it is close to a congestion zone which could act as strong support.
4. Hence, we expect the pair to be bullish in the near-term.