Market Snapshots

EURGBP Wave Analysis – 28 August, 2019

EURGBP Wave Analysis – 28 August, 2019
  • EURGBP reversed from support area
  • Further gains are likely

EURGBP recently reversed up from the support area lying between the support level 0.9030 (former resistance from July and January), support trendline of the daily up channel from May and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term corrective wave B.

EURGBP is expected to rise further and retest the next resistance level 0.9150 (top of the previous short-term wave (b) from last week).

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