EUR/GPB: buy target – 0.7200
By: Dmitriy Chernovolov
- EUR/GPB reversed from strong support zone
- Next buy target – 0.7200
EUR/GPB recently reversed up sharply from the powerful support zone located between the support levels 0.7060 and 0.7000 (this support also previously reversed the sharp primary impulse wave ① in March, as you can see below). The strength of this support zone is also indicated by the clear bullish divergence that can be seen on the daily Momentum indicator.
Given the strength of the aforementioned support zone, EUR/GPB can be expected to rise further toward the next buy target at the resistance level 0.7200.