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EUR/GBP reversed from resistance zone

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  • EUR/GBP reversed from resistance zone
  • Next sell target - 0.8780

 EUR/GBP recently reversed down from the resistance zone lying between the resistance level 0.8880, upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse (C) from March. The downward reversal from this resistance zone created the daily Japanese candlesticks reversal pattern Shooting Star. EUR/GBP is expected to fall further toward the next sell target at the next support level 0.8780 (target for the completion of wave (ii)).

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