Technical analysis

EURGBP Wave Analysis 5 February 2024

– EURGBP reversed from support level 0.8515

– Likely to rise to resistance level 0.8600

EURGBP currency pair recently reversed up from the key support level 0.8515, which has been reversing the pair from the middle of last year.

The support level 0.8515 was strengthened by the lower weekly Bollinger Band.

Given the strength of the support level 0.8515 and the oversold weekly Stochastic, EURGBP currency pair can be expected to rise further to the next resistance level 0.8600.

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