EURGBP Wave Analysis 13 December 2024

– EURGBP reversed from support zone

– Likely to rise to resistance level 0.8350

EURGBP currency pair recently reversed up from the support area set between the long-term support level 0.8210 (former support from the start of 2022) and the lower weekly Bollinger Band.

The upward reversal from the support zone is likely to form the weekly Japanese candlesticks reversal pattern Hammer, if the pair closes today near the current levels.

Given the oversold weekly Stochastic, EURGBP currency pair can be expected to rise further to the next resistance level 0.8350.