Categories: 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).

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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