EUR/GBP: buy target 0.7300
By: Dmitriy Chernovolov
- EUR/GBP reached buy target 0.7200
- Next buy target 0.7300
EUR/GBP yesterday rose sharply reaching the resistance level 0.7200, which was set as the buy target in our previous forecast for this currency pair. The price earlier reversed up from the support level 0.7050, which is the upper boundary of the strong support zone, which has been reversing the pair from March, as you can see below).
If the price breaks above the resistance level 0.7200 - EUR/GBP can then rise in the active wave 2 toward the next buy target at the next resistance level 0.7300. The price will need to break the weekly resistance trendline from December – to reach this buy target.