Technical analysis

EURGBP Wave Analysis – 15 March, 2022

EURGBP Wave Analysis – 15 March, 2022

• EURGBP reversed from resistance level 0.8450
• Likely to fall to support level 0.8360

EURGBP recently reversed down from the key resistance level 0.8450 (which has been reversing the price from the start of February).

The resistance zone near the resistance level 0.8450 was strengthened by the upper daily Bollinger Band, resistance trendline of the dialy down channel from October and by the 61.8% Fibonacci correction of the downward impulse from December.

Given the strong daily downtrend – EURGBP can be expected to fall further toward the next support level 0.8360.

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