Categories: Technical analysis

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)).

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.

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The FxPro Tech Analysis Team
Tags: EURGBP

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