Elliott wave analysis of EUR/GBP for July 23, 2020


EUR/GBP found resistance at 0.9138 which wasn't a big surprise. It should just be a matter of time before this resistance is broken and EUR/GBP will be able to edge higher towards 0.9322 and 0.9500 as the next targets.

Support is seen in the 0.9053 - 0.9069 area. The pair may rally higher through resistance at 0.9138 to 0.9322.

R3: 0.9154

R2: 0 9138

R1: 0.9105

Pivot: 0.9085

S1: 0.9069

S2: 0.9053

S3: 0.9044

Trading recommendation:

We are long EUR from 0.8646 with our stop placed at 0.9000

The material has been provided by InstaForex Company - www.instaforex.com