EURGBP Wave Analysis – 18 December, 2019
December 19, 2019 @ 17:38 +03:00
- EURGBP reversed from support area
- Likely to rise to 0.8600
EURGBP recently reversed up from the support area lying between the powerful, long-term support level 0.8340 (which has been reversing the price from May), lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous upward price move from May.
The upward reversal from this support area started the active short-term correction 4.
EURGBP is expected to rise further toward the next resistance level 0.8600. Strong support remains at the support level 0.8340.