There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
EUR/GBP reversed from support zone
- EUR/GBP reversed from support zone
- Next buy target - 0.8870
EUR/GBP recently reversed up with the daily Hammer from the support zone lying between the multi-month support level 0.8700 (which has been reversing the price from the start of December, as can be seen below) and the lower daily Bollinger Band. The upward reversal from this support zone started the active minor corrective wave 2. EUR/GBP is likely to rise further toward the next buy target at the next resistance level 0.8870 (target for completion of wave 2).
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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