EUR/GBP rising inside intermediate impulse wave
- EUR/GBP rising inside intermediate impulse wave
- Next buy target - 0.8600
EUR/GBP recently reversed up from the support zone lying between the support level 0.8500 and the 50% Fibonacci correction of the previous sharp upward impulse from the middle of July. The upward reversal from this support area completed the previous intermediate ABC correction (4) - which is a part of the primary impulse wave ③ from the end of May.
EUR/GBP is expected to rise further in the active impulse waves (5) and ③ toward the next buy target at the resistance level 0.8600. Buy stop-loss can be placed below the aforementioned support level 0.8500.