EURGPB Wave Analysis 15 January 2025

- EURGPB reversed from multi-month resistance level 0.8445
- Likely to fall to support level 0.8380

EURGPB currency pair recently reversed down from the strong multi-month resistance level 0.8445, which has been steadily reversing the price from the start of September, as can be seen below.

The resistance level 0.8445 was further strengthened by the upper daily Bollinger Band and by the nearby 61.8% Fibonacci correction of the downtrend from the start of August.

Given the overbought daily Stochastic, EURGPB currency pair can be expected to fall to the next support level 0.8380.