EUR/GBP is likely to move higher to the 0.9500 peak before starting a second descend to support near 0.8995. This will complete wave iv and set the stage for the final rally in wave v towards the ideal target at 0.9742. This will complete the long-term rally from 0.6909 and set the stage for a decent size decline to at least 0.8286 and possible through here too.
However, for now look for a little more upside to 0.9500 and then a second corrective descend to 0.8995 to set the stage for the final impulsive rally in wave v towards 0.9742
R3: 0.9500
R2: 0.9388
R1: 0.9328
Pivot: 0.9250
S1: 0.9157
S2: 0.9121
S3: 0.9067
Trading recommendation:
We are looking for a possible buying opportunity near 0.9010
