EURGBP Wave Analysis – 22 March, 2019

• EURGBP reversed from resistance area
• Further losses are likely

EURGBP recently reversed down with the daily Shooting Star from the resistance area lying between the upper daily Bollinger Band, resistance level 0.8700 and the 38.2% Fibonacci correction of the previous downward impulse from January.

The downward reversal from this resistance area started the active short-term impulse wave 3.

EURGBP is expected to fall further and re-test the next support level 0.8530.