EUR/GBP rising inside minor impulse wave 5
- EUR/GBP rising inside minor impulse wave 5
- Next buy target - 0.8620
EUR/GBP continues to rise inside the minor impulse wave 5 - which started earlier – when the pair reversed up from the support zone lying between the support level 0.8300 and the 38.2% Fibonacci retracement of the previous sharp upward impulse 3 from the end of June. The active impulse wave 5 belongs to the intermediate 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 pivotal resistance level 0.8620 (which stopped the previous minor impulse wave 3 in June, as can be seen below).