Technical analysis

EURGBP Wave Analysis 14 February 2024

– EURGBP reversed from support level 0.8510

– Likely to rise to resistance level 0.8575

EURGBP currency pair recently reversed up from the key support level 0.8510 (which has been reversing the price from July), strengthened by the lower daily Bollinger Band.

The upward reversal from the support level 0.8510 created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

EURGBP currency pair can be expected to rise further to the next resistance level 0.8575 (top of the previous minor correction ii).

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