Categories: Technical analysis

EURGBP Wave Analysis – 18 February 2025

– EURGBP broke the support zone

– Likely to fall to support level 0.8265

EURGBP currency pair recently broke the support zone between the support level 0.8300 (which stopped the previous impulse wave i at the end of January) and the 61.8% Fibonacci correction of the upward ABC correction 4 from December.

The breakout of this support zone accelerated the active short-term impulse wave iii of the higher order impulse wave 5 from January.

EURGBP currency pair can be expected to fall to the next support level 0.8265 (former low of the minor correction b from the end of December).

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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