EURGBP: ⬇️ Sell
– EURGBP reversed from resistance level 0.8860
– Likely to fall to support level 0.8740
EURGBP currency pair recently reversed from resistance area between the resistance level 0.8860 (former weekly pivot from the start of 2023) and the upper weekly Bollinger Band.
The downward reversal from the resistance level 0.8860 stopped the previous weekly impulse wave 3.
Given the strength of the resistance level 0.8860 and the overbought weekly Stochastic, EURGBP currency pair can be expected to fall to the next support level 0.8740 (former top of weekly waves (1), 1 and 3).
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