EURGBP Technical Analysis Report 11 June, 2021

• EURGBP reversed from support zone
• Likely to rise to resistance level 0.8640

EURGBP currency pair just reversed up from the support zone lying between the key support level 0.8570 (which has been reversing the price from the middle of May) and the lower daily Bollinger Band. The upward reversal from this support zone stopped the previous short-term impulse wave 3 from the end of May.

Given the strength of the aforementioned support zone and the weakening euro bearish sentiment seen across the FX markets today – EURGBP currency pair can be expected to rise further toward the next resistance level 0.8640 (top of the minor correction 2 from the end of May).

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