EURGBP currency pair can be expected to fall further to the next support level 0.8455 (target price for the competition of the active impulse wave 3).
- EURGBP broke support area
- Likely to fall to support level 0.8455
EURGBP currency pair continues to fall strongly after the earlier breakout of the support area located between the key support level 0.8500 and the support trendline of the daily down channel from the middle of last November. Price to the breakout of this support area the pair broke the major support level 0.8600, which has been reversing the price from July of last year. The breakout of this support area should accelerate the active minor impulse wave 3 of the intermediate impulse wave (3) from the middle of May.
Given the clear daily downtrend, EURGBP currency pair can be expected to fall further to the next support level 0.8455 (target price for the competition of the active impulse wave 3).