Technical analysis

EURGBP Wave Analysis – 11 February, 2022

EURGBP Wave Analysis – 11 February, 2022

• EURGBP reversed from resistance zone

• Likely to fall to support level 0.8320

EURGBP currency pair recently reversed down from the resistance zone lying between the key resistance level 0.8460 (former support from December), upper daily Bollinger Band and the 61.8% Fibonacci correction of the downward impulse from December.

The downward reversal from this resistance zone is aligned with the clear downtrend from last year.

EURGBP can be expected to fall further toward the next support level 0.8320 (which has been reversing the price from the start of January).

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