EURGBP Technical Analysis Report 29 April, 2024
EURGBP currency pair can be expected to fall further toward the next support level 0.8500, which has been reversing the price from August.,
– EURGBP falling strongly
– Likely to fall to support level 0.8500
EURGBP currency pair continues to fall strongly after the pair reversed down with the daily Bearish Engulfing candlesticks reversal pattern from the key resistance level 0.8630, intersecting with the upper daily Bollinger Band and the 50% Fibonacci correction of the previous sharp downward impulse from November. The pair is currently falling strongly inside the minor ABC correction 2, which belongs to the extended C-wave from December.
Given the clear daily downtrend and the improving sterling sentiment seen across the FX markets today EURGBP currency pair can be expected to fall further toward the next support level 0.8500, which has been reversing the price from August.,
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