You can see Bat Pattern
which is developing currently at the chart EURGBP
. Point B is located near 38,2% of XA. Point C is between A and B, therefore it is convenient that 88,6% level will be tested (this will be the point D). EURGBP
doesn’t have clear trend. We can observe side trend for over 6 months there. This fact is a small problem, but point D at 88,6% is strengthened by important resistance. It’s likely that EURGBP
will rebound at 0.8730 level. It could start declines to this year’s the lowest level.