Technical analysis

EURGBP Wave Analysis 3 May 2024

– EURGBP reversed from support zone

– Likely to rise to resistance level 0.8625

EURGBP recently reversed up from the support zone lying between the key support levels 0.8500, 0.8550 and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Morning Star Doji.

EURGBP can be expected to rise further to the next resistance level 0.8625 (which has been reversing the price from January).

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