EURGBP Wave Analysis – 24 January, 2022

• EURGBP reversed from long-term support level 0.835

• Likely to rise to resistance level 0.6800

EURGBP currency pair recently reversed up from the long-term support level 0.835 (which has been steadily reversing the pair from 2016), strengthened by the lower weekly Bollinger Band.

The upward reversal from the support level 0.835 stopped the previous downward impulse waves 5 and (C).

Given the strength of the term support level 0.835 – EURGBP currency pair can be expected to rise further toward the next resistance level 0.6800.