EURGBP Wave Analysis – 12 May, 2022

eurgbp-wave-analysis-–-12-may,-2022

• EURGBP reversed from resistnace area

• Likely to fall to support level 0.8450

EURGBP currency pair recently reversed down from the resistnace area located between the key resistnace level 0.8590 (which has been reversing the pair from November), upper dialy Bollinger Band and the upper trendline of the daily up channel from March.

The downard reversal from this resistnace area stopped the earleir impulse wave (3).

EURGBP can be expected to fall further toward the next support level 0.8450 (former top of wave (1) from last month).

Source: Fxpro

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