NZD/JPY falling inside minor impulse wave C Next sell target - 76…
EUR/GBP reversed from support area
- EUR/GBP reversed from support area
- Next buy target - 0.8860
EUR/GBP recently reversed up from the support area lying between the powerful support level 0.8740 (which has reversed multiple downward corrections from June as can be seen below) and lower daily Bollinger Band. The upward reversal from this support area stopped the previous minor impulse wave 3. EUR/GBP is expected to rise to the next buy target at the next resistance level 0.8860.
We've got a bearish "High Wave", which has strong confirmation. In this case, the price is likely going to decline.
Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…
The 144 Moving Average has acted as support, but there's a bearish "Engulfing' at the local high.