EURGBP Wave Analysis – 23 February, 2022

• EURGBP reversed from support area

• Likely to rise to resistance level 0.8400

EURGBP currency pair recently reversed up from the support area located between the key support level 0.8310 (which has been reversing the pair from the start of January) and the lower daily Bollinger Band.

The upward reversal from this support area stopped the previous medium-term ABC correction (2).

Given the strength of the aforementioned support area – EURGBP currency pair can be expected to rise further toward the next resistance level 0.8400 (top of wave B).