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22.06.2020 06:42 AM
Elliott wave analysis of EUR/GBP for June 22, 2020

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EUR/GBP has rallied as ex[ected and has cleared resistance at 0.9025 indicating much more upside pressure towards 0.9499 in the weeks ahead. Nevertheless, it will not be in a straight line and therefore, we must accept short-term corrections and in the short-term we could see a dip to 0.9007 before the next advance towards 0.9184, 0.9275, and to 0.9499 and above.

R3: 0.9134

R2: 0.9090

S1: 0.9060

Pivot: 0.9038

S1: 0.9025

S2: 0.9007

S3: 0.8988

Trading recommendation:

We are long EUR from 0.8760 and we will raise our stop to 0.8910

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