EURGBP: ⬇️ Sell
– EURGBP reversed from resistance zone
– Likely to fall to support level 0.8540
EURGBP currency pair recently reversed down from the resistance zone between the pivotal resistance level 0.8590 (which stopped the previous wave 1 in early September), upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from June.
The downward reversal from this resistance zone completed wave stopped the earlier short-term impulse wave 3.
Given the strength of the resistance level 0.8590 and strong daily downtrend, EURGBP currency pair can be expected to fall further to the next support level 0.8540 – former low of the earlier wave 2.
, upper daily Bollinger Band and the 61.8% Fibonacci correction of the sharp downward impulse from June.){kind=link}