EURGBP Wave Analysis 2 December 2024

- EURGBP reversed from support zone
- Likely to rise to resistance level 0.8325

EURGBP currency pair today reversed up from the support zone located between the strong support level 0.8265 (which has been revering the pair from the start of November) and the lower daily Bollinger Band.

The upward reversal from this support zone stopped the earlier impulse waves iii and (iii) –which belong to the downward impulse sequence 1 from August.

Given the strength of the support level 0.8265 and the triple bullish divergence on the daily Stochastic indicator, EURGBP currency pair can be expected to rise to the next resistance level 0.8325.