EURGBP Wave Analysis – 16 September 2022

• EURGBP broke major resistance level 0.8700

• Likely to rise to resistance level 0.8800

EURGBP continues to rise after the price broke above the major resistance level 0.8700 (which has been reversing the price from the middle of June).

The breakout of the resistance level accelerated the active short-term upward impulse wave 3, which begins to wave (3) from August.

EURGBP can be expected to rise further in the active impulse waves 3 and (3) toward the next resistance level 0.8800 (target price for the completion of the active impulse wave 3).