EURGBP: ⬇️ Sell
– EUR/GBP broke the support area
– It is likely to fall to the 0.8500 support level
EUR/GBP recently broke through the support zone between the 0.8500 support level and the support trend line of the two daily descending channels from the month and February.
The breakout of this support area accelerated the active secondary impulsive wave 3 of the intermediate impulsive wave (3) of May.
Due to the clear daily downtrend, EUR/GBP is expected to decline further to the next support level 0.8500 (target price for completion of active impulse wave 3).
