Technical analysis

EURGBP Wave Analysis 8 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 support level 0.8515, which has been reversing the price from the middle of 2023.

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

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

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