Technical analysis

EURGBP Wave Analysis 23 December, 2020

EURGBP Wave Analysis 23 December, 2020

• EURGBP reversed from resistance area

• Likely to fall to 0.9000

EURGBP recently reversed down sharply from the resistance area lying between the key resistance level 0.9200 (which also reversed the price at the start of December and in September) and upper daily Bollinger Band

The downward reversal from this resistance area created the daily Japanese candlesticks pattern Shooting Star.

EURGBP is expected to fall further toward the next round support level 0.9000 (which has been reversing the price from the start of December).

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