EURGBP Wave Analysis – 15 October, 2021

• EURGBP broke support level 0.8450

• Likely to fall to support level 0.8400

EURGBP continues to fall after this currency pair broke the key support level 0.8450 (previous monthly low from August).

The breakout of the support level 0.8450 accelerated the active impulse waves (iii), 3 – which belong to the extended impulse wave (3) from April.

Given the strong downtrend and high sterling bullishness – EURGBP can be expected to fall further toward the next support level 0.8400.