EUR/GBP: possible upward correction to 0.7100
By: Dima Chernovolov
- EUR/GBP reached sell target 0.7010
- Possible upward correction to 0.7100
EUR/GBP opened this trading week with the sharp downward price gap which brought the price to the support levels 0.7010 (low of the previous primary impulse wave ① which was set as the sell target in our previous forecast for this currency pair) and 0.7000. The price immediately reversed up from these support levels and continues to rise at the time of the writing.
EUR/GBP is likely to correct further up toward the next resistance level 0.7100 – from where the pair is likely to reverse down to test the support level 0.7000.