Categories: Technical analysis

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).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURGBP

Recent Posts

The dollar has reached range limits

The US dollar has strengthened, reaching the upper boundary of its trading range. The British…

40 mins ago

Crypto: Tug-of-war at new altitude

Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…

1 hour ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

21 hours ago

USDJPY Wave Analysis 13 November 2024

- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…

21 hours ago

WTI crude Wave Analysis 13 November 2024

- WTI crude oil reversed from the multi-year support level 66.70 - Likely to rise…

21 hours ago

Japanese inflation continues to rise

Japanese inflation is rising, with corporate goods prices inflation accelerating to 3.4% y/y in October,…

1 day ago

This website uses cookies