EUR/GBP broke resistance level 0.8620
- EUR/GBP broke resistance level 0.8620
- Next buy target - 0.8800
EUR/GBP recently broke through the resistance level 0.8620, which was set as the buy target in our earlier forecast for this currency pair. The breakout of the resistance level 0.8620 accelerated the active minor impulse wave (iii) – which is a part of the longer-term upward impulse 5 of the intermediate impulse (3) from the end of May.
The active impulse wave 5 started earlier from the support zone surrounding the support level 0.8300. EUR/GBP is expected to rise further toward the next buy target at the next resistance level 0.8800. Buy stop-loss can be placed below the aforementioned price level 0.8620.