FBS - Analytics

    FBS

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    EUR/GBP: buy target - 0.7650

    • EUR/GBP reversed from support zone
    • Next buy target - 0.7650

    EUR/GBP continues to rise after the recent upward reversal from the support zone lying between the support level 0.7550 (which stopped the earlier minor correction 2 in January, as can be seen from the daily EUR/GBP chart below) and the 50% Fibonacci correction of the previous sharp minor impulse wave 1. The upward reversal from this support zone continues the active minor impulse wave 3 – which belongs to the intermediate impulse wave (3) from the start of January.

    EUR/GBP is likely to rise further in the active impulse waves 3 and (3) toward the next buy target at the resistance level 0.7650. Buy stop-loss can be placed below the aforementioned support level 0.7550.


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