Technical analysis

EURGBP Wave Analysis 27 November, 2020

EURGBP Wave Analysis 27 November, 2020

• EURGBP reversed from support level 0.8865

• Likely to rise to 0.9000

EURGBP recently reversed up from the key support level 0.8865 (which has been repeatedly reversing this currency pair from the start of June, as can be seen below) standing near the lower daily Bollinger Band.

The upward reversal from the support level 0.8865 started the active short-term impulse wave 3.

Given the strength of the support level 0.8865 – EURGBP can be expected to extend the gains toward the next round resistance level 0.9000 (top of the previous minor impulse wave 1).

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