GBP/NZD reversed from resistance zone Next sell target - 1…
EUR/GBP reached buy target 0.9240
- EUR/GBP reached buy target 0.9240
- Next buy target - 0.9400
EUR/GBP has been under bullish pressure lately – following the earlier breakout of the resistance zone lying at the intersection of the resistance level 0.9240 (which was set as the buy target in our earlier forecast for this pair) and the resistance trendline of the sharp daily up channel from May. The breakout of this up channel signalled the acceleration of the active impulse waves 5 and (3). EUR/GBP is expected to rise to next buy target at the next resistance level 0.9400 (forecast price for the termination of the active impulse wave (3)).
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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