EURGBP Wave Analysis – 31 August, 2020

• EURGBP reversed from support level 0.8915

• Likely to rise to 0.9000

EURGBP recently reversed up from the pivotal support level 0.8915 (which also revered the price in the middle of June).

The support zone near the support level 0.8915 is strengthened by the lower daily Bollinger Band and by the 50% Fibonacci retracement of the previous upward impulse from April.

EURGBP is expected to rise further in the active minor impulse waves (i) and 3 toward the next round resistance level 0.9000.