EUR/GBP reversed from support zone

EUR/GBP reversed from support zone

  • EUR/GBP reversed from support zone
  • Next buy target - 0.9000

 EUR/GBP previously reversed up from the support zone lying between support level 0.8900 (former resistance from July) and the 38.2% Fibonacci retracement of the previous sharp upward impulse from June. The upward reversal from this support zone started the active short-term impulse wave (iii). EUR/GBP is expected to rise further toward the next buy target at the next round resistance level 0.9000 (which reversed the price earlier this month).


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The outlook for the GBP

The British pound has been enjoying itself versus the other major currencies during the past weeks. WIll the advance of the GBP continue?

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