LeoPrime Daily Market Analysis

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EURGBP reversed from Support area; Likely to rise to 0.88800

EURGBP recently reversed down from the resistance area located between the round resistance level 0.90000 (former strong support from October), standing near the upper daily Bollinger Band, resistance trendline of the daily down channel from September and the 50% Fibonacci of the previous impulse (c). Given the rising euro bearishness seen across the FX markets today, EURGBP is likely to fall further toward the next support level 0.88800 (former strong support and the monthly low from September, which reversed the price with the daily Morning Star at the start of November).

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