EURGBP: ⬇️ Sell
– EURGBP reversed from strong resistance zone
– Likely to fall to support level 0.8700
EURGBP currency pair recently reversed down from the strong resistance zone between the multi-month resistance level 0.8735 (which has been reversing the price from April) and the upper daily Bollinger Band.
The downward reversal from this resistance zone stopped the earlier upward impulse wave iii from the start of Septembers.
Given the strength of the resistance level 0.8735 and the overbought daily Stochastic, EURGBP currency pair can be expected to fall to the next support level 0.8700.
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