Technical analysis

EURGBP Wave Analysis – 31 May, 2021

• EURGBP reversed from support level 0.8585

• Likely to rise to resistance level 0.8660

EURGBP currency pair recently reversed up from the pivotal support level 0.8585 (which has been reversing the price from the middle of April).

The upward reversal from the support level 0.8585 started the active minor impulse wave 3 – which belongs to wave (3) from the start of May.

EURGBP currency pair can then be expected to rise further toward the next resistance level 0.8660 (top of the previous impulse wave 1).

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