LeoPrime Daily Market Analysis

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EURGBP reversed from resistance zone; Likely to fall to 0.90000

EURGBP continues to fall inside the accelerated downward correction – after the pair reversed down with the daily Shooting Star from the resistance zone lying between the resistance level 0.9135 (which reversed the price twice in October), upper daily Bollinger Band and the 61.8% Fibonacci retracement of the previous ABC correction 2 from September. Given the reversal of the previously strong bearish GBP sentiment seen across the FX markets today – EURGBP is expected to fall further toward the next round support level 0.90000 (which stopped the previous minor correction (iv) at the start of December)

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