HY MARKETS News: Forex Report: EUR/GBP

EUR/GBP recently corrected up after the pair reached the sell target 0.8100 that was set in our earlier report for this currency pair. The latest upward correction from this support level stopped at the 38.2% Fibonacci Correction of the preceding minor downward impulse wave 1 of the currently active 3rd intermediate impulse (3) from the end of April (as you can see from the daily EUR/GBP chart below).

EUR/GBP is expected to resume the predominant downtrend visible on the daily chart and is likely to retest the previous sell target 0.8100 in the nearest time.