Technical analysis
EURGBP Wave Analysis 29 August 2023
August 29, 2023 @ 21:45 +03:00
– EURGBP broke resistance level 0.8590
– Likely to test resistance level 0.8655
EURGBP currency pair recently broke above key resistance level 0.8590, intersecting with the 61.8% Fibonacci correction of the downward impulse from the start of August.
The breakout of the resistance level 0.8590 accelerated the active short-term correction ii.
Given the strong sterling sales across the FX markets, EURGBP currency pair can be expected to rise further toward the next resistance level 0.8655 , which has been reversing the pair since June.
![](https://fxpro.news/wp-content/uploads/2023/08/eurgbp-primary-analysis-aug-29-1956-pm-1-day-1024x474.png)