Elliott wave analysis of EUR/GBP for July 30, 2020

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We are currently looking for a break above minor resistance at 0.9087. It will indicate that the pair is likely to test the resistance level at 0.9138. Only a break above here will open the way for continuation towards the next upside targets at 0.9322 and 0.9500.

Support is now seen at 0.9053 and at 0.9032. The pair may break above 0.9087 and more importantly above 0.9138.

R3: 0.9154

R2: 0.9138

R1: 0.9105

Pivot: 0.9087

S1: 0.9069

S2: 0.9053

S3: 0.9032

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