Technical analysis

EURGBP Wave Analysis 25 February, 2021

EURGBP Wave Analysis 25 February, 2021

• EURGBP reversed from support area

• Likely to reach resistance level 0.8700

EURGBP recently reversed up from the support area lying between the support level 0.8600 (former major resistance from the end of 2019) and the lower daily Bollinger band.

The upward reversal from this support area created the daily candlesticks reversal pattern Hammer Doji.

EURGBP is likely to rise further toward the next resistance level 0.8700 (former strong support from the start of 2020).

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