Categories: Technical analysis

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)).

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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Tags: EURGBP

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