EURGBP currency pair recently reversed down from the major long-term resistance 0.85900 (which has been reversing the pair from the start of November) – strengthened by the the upper daily Bollinger Band. The downward reversal from resistance 0.85900 stopped the earlier
impulse wave C of the ABC correction (2). Given the strength of the resistance level 0.85900 , EURGBP currency pair can be expected to
fall further toward the next support level 0.85000 (former key resistance from March).
EURGBP reversed from long-term resistance 0.85900; Likely to fall to support level 0.85000.
