EURGBP Wave Analysis 10 December 2024

- EURGBP under bearish pressure
- Likely to fall to support level 0.8200

EURGBP currency pair under bearish pressure after breaking the support zone between the key support level 0.8265 (which stopped previous waves iii, (i) and i) and the support trendline of the Descending Triangle from November.

The breakout of this support zone accelerated the active impulse waves 3 and v – which belong to the impulse wave (3) from January.

Given the clear daily downtrend, EURGBP currency pair can be expected to fall toward the next support level 0.8200, the target for the completion of the active impulse wave 3.