Categories: Technical analysis

EURGBP Wave Analysis 23 October, 2020

• EURGBP reversed from support level 0.9020

• Likely to rise to 0.9135

EURGBP earlier reversed up from the key support level 0.9020 (which has been reversing the price from the end of September, as can be seen below).

The support area near the support level 0.9020 is strengthened by the lower daily Bollinger Band and the 61.8% Fibonacci correction of wave (i).

EURGBP is likely to rise further toward the next resistance level 0.9135 (which reversed the price sharply earlier this month).

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.

Share
Published by
The FxPro Tech Analysis Team
Tags: EURGBP

Recent Posts

ADP hints at another strong NFP on Friday  

The monthly ADP labour market report showed that America created 192K new jobs in April, above…

23 hours ago

Fed’s hawkish tone risks sinking S&P500 to 4700

Bears showed strength ahead of the FOMC decision.  U.S. indices sagged on Tuesday as investors…

1 day ago

A new stage of Bitcoin’s decline

Market Picture  Bitcoin's closing price on Tuesday became the lowest since late February, confirming the…

1 day ago

Ebay Wave Analysis 30 April 2024

- Ebay under the bearish pressure - Likely to fall to support level 51.00 Ebay…

2 days ago

GBPAUD Wave Analysis 30 April 2024

- GBPAUD reversed from key support level 1.9135 - Likely to rise to resistance level…

2 days ago

Silver: a possible long road down

Silver has lost 2.6% since the start of the day on Tuesday to $26.4 per…

2 days ago

This website uses cookies