GBP/NZD reversed from resistance zone Next sell target - 1…
EUR/GBP reached buy target 0.8800
- EUR/GBP reached buy target 0.8800
- Next buy target - 0.8950
EUR/GBP today broke above the key resistance level 0.8800 (which was set as the buy target in our previous forecast for this currency pair). The breakout of the resistance level 0.8800 accelerated the active minor impulse wave 5, which belongs to the intermediate wave (C) of the primary ABC correction ② from last December. The active impulse wave 5 started earlier from the support zone lying between the support level 0.8700 and the upper trendline of the recently broken daily down channel from January. EUR/GBP is expected to rise to the next buy target at the next resistance level 0.8950 (target price for the completion of wave (C)).
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
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