Categories: Technical analysis

EURGBP Wave Analysis – 29 September, 2022

• EURGBP reversed from long-term resistance level 0.9200

• Likely to fall to support level 0.8800

EURGBP falling after the pair reversed down from the powerful long-term resistance level 0.9200 (which has been reversing the price from the middle of 2020), standing far above the upper weekly Bollinger Band.

The downward reversal from the resistance level 0.9200 is currently forming the strong weekly Candlesticks reversal pattern Falling Star.

EURGBP currency pair can be expected to fall further toward the next support level 0.8800.

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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