EURGBP Technical Analysis Report 9 April, 2024

Dmitry Chernovolov Market Analyst

EURGBP currency pair can be expected to fall further toward the next support level 0.8545, which has been reversing the price from the middle of March.

– EURGBP reversed from resistance level 0.8575

– Likely to fall to support level 0.8545

EURGBP currency pair recently reversed down from the key resistance level 0.8575, which has been reversing the pair from the start of February. The resistance level 0.8575 was strengthened by the upper daily Bollinger Band and by the 38.2% Fibonacci correction of the previous downward impulse from the end of December. Given the clear daily downtrend, EURGBP currency pair can be expected to fall further to the next support level 0.8545.

Given the strong daily downtrend, and the bullish sentiment affecting the sterling today, EURGBP currency pair can be expected to fall further toward the next support level 0.8545, which has been reversing the price from the middle of March.

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