Technical analysis

EURGBP Wave Analysis – 10 June, 2021

• EURGBP reversed from resistance zone

• Likely to fall to support level 0.8565

EURGBP currency pair recently reversed down from the resistance zone lying between the resistance level 0.8640 (top of the previous correction (b)) and the upper daily Bollinger Band.

The downward reversal form this resistance zone is aligned with the predominant downtrend that can be seen on the daily EURGBP charts.

EURGBP can then be expected to fall further toward the next support level 0.8565 (which stopped the previous waves (2) and 2).

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