Technical analysis

EURGBP Wave Analysis – 28 April 2023

• EURGBP under bearish pressure

• Likely to fall to support level 0.8740

EURGBP falling strongly after the price reversed down from the key resistance level 0.8860 (which has been reversing the price from March) standing near the upper daily Bollinger Band.

The downward reversal from the resistance level 0.8860 created the daily candlesticks reversal pattern Bearish Engulfing.

EURGBP can be expected to fall further toward the next support level 0.8740 (which has been reversing the price from January).

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