EURGPB Wave Analysis – 4 March 2025

- EURGPB reversed from support area
- Likely to rise to resistance level 0.8300

EURGPB currency pair recently reversed from the support area set between the multi-month support level 0.8235 (which created the Double Bottom in December) and the lower daily Bollinger Band.

The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Doji which signalled the strength of this support area.

Given the strength of the support level 0.8235 and the strongly bullish euro sentiment seen today, EURGPB can be expected to rise to the next resistance level 0.8300 (top of the previous correction ii).