Categories: Technical analysis

EURGBP Wave Analysis – 28 August, 2019

  • EURGBP reversed from support area
  • Further gains are likely

EURGBP recently reversed up from the support area lying between the support level 0.9030 (former resistance from July and January), support trendline of the daily up channel from May and the lower daily Bollinger Band.

The upward reversal from this support area started the active short-term corrective wave B.

EURGBP is expected to rise further and retest the next resistance level 0.9150 (top of the previous short-term wave (b) from last week).

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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