Market Snapshots

EURGBP Wave Analysis – 30 March, 2020

EURGBP Wave Analysis – 30 March, 2020
  • EURGBP broke support area
  • Likely to fall to 0.8750

EURGBP recently broke through the support area lying between the round support level 0.9000 (which stopped the previous A-wave of the active ABC correction (2)) and the 38.2% Fibonacci retracement of the previous impulse wave (1)

The breakout of this support area accelerated the active short-term impulse wave C.

EURGBP is likely to fall further toward the next support level 0.8750 (former top of the previous sharp impulse wave 3 from the start of March).

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