EURGBP Wave Analysis – 13 July, 2022

• EURGBP reversed from support level 0.8425

• Likely to rise to resistance level 0.85000

EURGBP today recently reversed up with the daily Hammer from the key support level 0.8425 (which has been reversing the pair from May), intersecting with the lower daily Bollinger Band and the 61.8% Fibonacci correction of the upward impulse from April.

The upward reversal from the support level 0.8425 stopped the previous minor downward impulse wave 1.

EURGBP can be expected to rise further toward the next resistance level 0.85000 (former monthly low from June).