EURGBP Wave Analysis – 17 August, 2020

• EURGBP reversed from round support level 0.9000

• Likely to rise to 0.9155

EURGBP recently reversed up from the key round support level 0.9000 (which stopped the (a)-wave of the previous minor corrective wave (ii)).

The support area near the support level 0.9000 was strengthened by the lower daily Bollinger Band and by the next strong support level 0.8950 (low of the daily Morning Star from the middle of July).

EURGBP is likely to rise further toward the next resistance level 0.9155 (top of the previous impulse waves 1 and (i)).