Technical analysis

EURGBP Wave Analysis 17 April 2024

– EURGBP reversed from strong support zone

– Likely to rise to resistance level 0.8585

EURGBP currency pair recently reversed up from the strong support zone surrounding the powerful support level 0.8515, which has been reversing the price from last June.

This support zone was further strengthened by the lower daily Bollinger Band.

Given the strength of the support level 0.8515 and the bearish sterling sentiment, EURGBP can be expected to rise further to the next resistance level 0.8585 (which has been reversing the price from January).

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