EURGBP Wave Analysis 30 August 2024

– EURGBP reversed from strong support level 0.8400

– Likely to rise to resistance level 0.8440

EURGBP currency pair today reversed up from the strong support level 0.8400 (which has been steadily reversing the price from the middle of June) standing near the lower daily Bollinger Band.

The upward reversal from the support level 0.8400 created the daily Japanese candlesticks reversal pattern Bullish Engulfing.

Given the oversold daily Stochastic and the strength of the support level 0.8400, EURGBP currency pair can then be expected to rise to the next resistance level 0.8440.