Technical analysis

EURGBP Wave Analysis – 18 December, 2019

EURGBP Wave Analysis – 18 December, 2019
  • EURGBP reversed from support area
  • Likely to rise to 0.8600

EURGBP recently reversed up from the support area lying between the powerful, long-term support level 0.8340 (which has been reversing the price from May), lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous upward price move from May.

The upward reversal from this support area started the active short-term correction 4.

EURGBP is expected to rise further toward the next resistance level 0.8600. Strong support remains at the support level 0.8340.

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