• EURGBP broke support level 0.8745
• Likely to fall to support level 0.8670
EURGBP currency pair continues to fall after the earlier breakout of the key support level 0.8745 (which stopped the previous minor impulse wave at the start of February, as can be seen below). The breakout of this support level accelerated the active minor impulse wave C of the intermediate downward ABC correction (2) from the start of September.
Given the strength of the active impulse wave C and the predominantly bearish euro sentiment seen across the FX markets today – EURGBP currency pair is likely to fall further toward the next support level 0.8670 (former multi-month low from April of 2020 and the forecast price calculated for the completion of the active impulse wave C).