EURGBP Wave Analysis – 10 September, 2020

• EURGBP broke resistance area

• Likely to rise to 0.9300

EURGBP continues to rise after the recent breakout of the resistance area lying between the resistance level 0.9165 (top of the previous minor impulse wave 1) and the 61.8% Fibonacci retracement of the previous downward wave A from March.

The breakout of this resistance area accelerated the active short-term impulse wave 3 from the start of September.

If the pair closes today above the price level 0.9165 – EURGBP is then likely to rise further toward the next resistance level 0.9300.