EURGBP Wave Analysis – 24 August, 2020

• EURGBP reversed from support zone

• Likely to rise to 0.9156

EURGBP recently reversed up from the support zone located between the key support level 0.8950 (which has been reversing the price from June), lower daily Bollinger Band and the 38,2% Fibonacci correction of the upward impulse 1 from April.

The upward reversal from this support zone started the active short-term impulse wave (iii).

EURGBP is likely to rise further toward the next resistance level 0.91560 (top of the previous impulse waves 1 and (i)).