- EURGBP reversed from the resistance zone
- Likely fall to support level 0.8635
EURGBP currency pair recently reversed down from the resistance zone between the multi-month resistance level 0.8735 (which stopped sharp wave (A) in April) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.
Given the strength of the resistance level 0.8735, EURGBP currency pair can be expected to fall to the next support level 0.8635 (low of the previous minor correction ii).
- Likely fall to support level 0.8635
EURGBP currency pair recently reversed down from the resistance zone between the multi-month resistance level 0.8735 (which stopped sharp wave (A) in April) and the upper daily Bollinger Band.
The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Dark Cloud Cover.
Given the strength of the resistance level 0.8735, EURGBP currency pair can be expected to fall to the next support level 0.8635 (low of the previous minor correction ii).
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Alexander Kuptsikevich,
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Chief Market Analyst at FxPro
----------
Follow our Telegram channel t.me/fxpro dedicated to providing insightful market analysis and expertise.
Reach out to media.comments@fxpro.com for PR and media inquiries
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.