EUR/GBP: buy target - 0.7400
By: Dmitriy Chernovolov
- EUR/GBP rises inside impulse wave (3)
- Next buy target - 0.7400
EUR/GBP continues to rise inside the 3rd intermediate impulse wave (3) - which started earlier this month, when the pair reversed up from the support zone lying between the support level 0.7300 and the 50% Fibonacci correction of the previous sharp minor upward impulse wave 5 from the start of this month. The active impulse wave (3) belongs to the sharp primary impulse wave ③ from the middle of November.
EUR/GBP is likely to rise further to the next buy target at the resistance level 0.7400, which stopped the previous impulse wave (1) earlier this month.