Market Snapshots

EURGBP Wave Analysis – 24 March, 2020

EURGBP Wave Analysis – 24 March, 2020
  • EURGBP reversed from multi-year resistance level 0.9270
  • Likely to fall to 0.9270

EURGBP recently reversed down from the strong multi-year resistance level 0.9270 (which stopped three weekly uptrends from the end of 2016, as can be seen from the weekly EURGBP chart below).

The resistance area near the resistance level 0.9270 was strengthened by the upper weekly Bollinger Band.

Given the strength of the resistance level 0.9270 – EURGBP is likely fall further toward the next support level 0.9000.

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