EURGBP Wave Analysis 23 September 2024

– EURGBP broke the support area

– Likely to fall to support level 0.8300

EURGBP currency pair recently broke the support area located between the key support level 0.8400 (which has been reversing the price from June) and the support trendline of the wide daily down channel from April.

The breakout of this support area accelerated the active impulse waves iii and 3.

Given the clear daily downtrend and the strongly bearish euro sentiment seen today, EURGBP currency pair can be expected to fall further to the next support level 0.8300 – target price for the completion of the active impulse wave iii.