Technical analysis

EURGBP Wave Analysis – 29 April, 2022

EURGBP Wave Analysis – 29 April, 2022

• EURGBP reversed from resistance zone
• Likely to fall to support level 0.8310

EURGBP currency pair recently reversed down from the resistance area located between the pivotal resistance level 0.8465 (which has been reversing the price from December), upper daily Bollinger Band and the resistance trendline of the down channel from last year.

This resistance zone is strengthened by the 61.8% Fibonacci correction of the downward impulse from September.

Given the clear daily downtrend – EURGBP can be expected to fall further toward the next support level 0.8310.

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