EURGBP is coming lower as anticipated, ideally within an impulsive five-wave decline for wave (C), where final wave 5 can be in progress after we spotted wave 4 correction.
We talked about bearish EURGBP pair a lot in the past weeks. Firstly we shared an article back on April 16th, when we spotted a bearish triangle pattern and then also on May 22nd, when we noticed a completion of a bearish triangle pattern on a daily chart. Since then, EURGBP actually remains nicely bearish within a five-wave bearish impulse for a higher degree wave (C).
Today we want to share an educational article on how we have been following one of the past waves of an impulsive five-wave decline in the 4h time frame chart.
If we go back to June 27th, we warned our members of an unfinished five-wave impulsive decline within wave (C), so we were tracking an a-b-c corrective rally in wave 4 with nice and key resistance around 0.8500 area.
![EURGBP Is Coming Lower As Anticipated; Step By Step Flashback Educational Article EURGBP 4H Chart From June 27 2024](https://cdn1.wavetraders.com/wp-content/uploads/2024/07/eurgbp1.png)
Later on July 1st, we noticed a completed a-b-c correction in wave 4 and pointed for a bearish continuation within wave 5.
![EURGBP Is Coming Lower As Anticipated; Step By Step Flashback Educational Article EURGBP 4H Chart From July 01 2024](https://cdn1.wavetraders.com/wp-content/uploads/2024/07/eurgbp2.png)
Then again on July 4th, EURGBP came even lower, but we mentioned and highlighted that we need broken channel support line to confirm an ongoing 5th wave.
![EURGBP Is Coming Lower As Anticipated; Step By Step Flashback Educational Article EURGBP 4H Chart From July 04 2024](https://cdn1.wavetraders.com/wp-content/uploads/2024/07/eurgbp3.png)
Going further, on July 9th we saw a break below channel support line that was a confirmation for a bearish resumption within wave 5.
![EURGBP Is Coming Lower As Anticipated; Step By Step Flashback Educational Article EURGBP 4H Chart From July 09 2024](https://cdn1.wavetraders.com/wp-content/uploads/2024/07/eurgbp4.png)
And now finally today on July 12th, EURGBP pair is back to lows for 5th wave as expected, but we still space down to around 0.8350 area to complete a five-wave cycle of the lower degree before it finds the low.
![EURGBP Is Coming Lower As Anticipated; Step By Step Flashback Educational Article EURGBP 4H Chart From July 12 2024](https://cdn1.wavetraders.com/wp-content/uploads/2024/07/eurgbp5.png)
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