Wave Tech Analysis

FxPro Forex Analysis: EURGBP Wave Analysis – 24 July , 2018

EURGBP reversed from resistance zone
• Likely to fall further

EURGBP recently reversed down from the resistance zone lying between the major resistance level 0.8970 (which stopped the (B)-wave at the start of March) and the upper daily Bollinger Band.

The downward reversal from this resistance zone started the active minor corrective wave (iv) which belongs to wave 3 from June.

EURGBP is likely to fall further and re-test the next support level 0.8880 (former resistance level from the end of June).

EURGBP - 1 - Jul-24 1836 PM (1 day)