Categories: Technical analysis

EURGBP Wave Analysis – 19 June, 2020

• EURGBP broke resistance zone

• Likely to rise to 0,9100

EURGBP today broke above the resistance zone lying between the key resistance level 0,9020 (which has been reversing the price from the end of May) and the 38.2% Fibonacci correction of the preceding ABC correction from march.

The breakout of this resistance zone continues the active medium-term upward impulse sequence (3) from the start of the month. EURGBP is likely to rise further toward the next resistance level 0,9100 (50% Fibonacci correction of the aforementioned ABC correction from march).

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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The FxPro Tech Analysis Team
Tags: EURGBP

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