- EURGBP reversed from resistance area
- Further losses are likely
EURGBP recently reversed down with the daily Shooting Star from the resistance area lying between the upper daily Bollinger Band, resistance level 0.8700 and the 38.2% Fibonacci correction of the previous downward impulse from January.
The downward reversal from this resistance area started the active short-term impulse wave 3.
EURGBP is expected to fall further and re-test the next support level 0.8530.