Categories: Technical analysis

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.

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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