EUR/GBP At Potential Resistance; More Weakness in View

EUR/GBP has made a three-wave decline down from 0.911 level, with wave 3) being an extended leg. The current recovery that is now in play can be labeled as wave 4), a temporary pullback, which can look for resistance and a reversal near the Fibonacci ratio of 38.2 ( around 0.883 region). From the mentioned region a new drip in impulsive fashion can follow, which we would later label as final wave 5) as part of a bigger wave C.


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