EURGBP Is In New Higher Degree Recovery
Sep 25, 2023


EURGBP Is In New Higher Degree Recovery mode from technical point of view and from Elliott wave perspective.

EURGBP is slow and sideways and trapped in big range when looking at monthly or weekly charts so ideally, pair is trapped in a very big complex consolidation, possibly even with a triangle now in Y. In triangle, each leg is made by three waves (A)-(B)-(C) and with current strong recovery back above important trendline, seems like a three-wave (A)-(B)-(C) decline within higher degree wave C is completed and new three-wave (A)-(B)-(C) rally within wave D underway. So, watch out for more upside now back towards 0.90 area, just be aware of short-term pullbacks.

EURGBP Is In New Higher Degree Recovery EURGBP Daily Chart
EURGBP Daily Chart

GBPAUD Is Finishing Multi-Year Bearish Triangle. Check our free chart HERE.


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