EURGBP Wave Analysis – 25 June, 2020

EURGBP Wave Analysis – 25 June, 2020

• EURGBP reversed from resistance area
• Likely to fall to 0.8900

EURGBP recently reversed down from the resistance area lying between the resistance level 0.9065 (former monthly high from May), upper daily Bollinger Band and the 50% Fibonacci retracement of the previous downward B-wave from March.

The downward reversal from this resistance level stopped the earlier short-term impulse wave (iii).

EURGBP is likely to correct down further toward the next support level 0.8900 (low of the previous minor correction (ii)).