LeoPrime Daily Market Analysis

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EURGBP reversed from resistance area; Likely to fall to support level 0.85000;

EURGBP currency pair continues to fall after the pair reversed down from the resistance zone set at the intersection of the key resistance level 0.86000 (previous monthly high from November) and the upper daily Bollinger Band. The downward reversal from this resistance area stopped the previous short-term ABC correction (ii). Given the strength of the aforementioned resistance zone and the bullish sterling sentiment seen across the currency markets today, EURGBP currency pair can be expected to fall further toward the next support level 0.85000

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