EURGBP - One more leg lower !

We have a bearish impulsive wave.
We are currently in wave C of wave 4. Price usually goes a bit outside the channel but gets back in again.
We can see resistance around 8760 - 8780, I expect price to turn lower at this zone.

We might see price go sideways which is usual for a wave 4, do not stress out, just have patience.
We might even see a triangle formation.

This move lower should be the last one before we see price retrace back a good portion of this down move.

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Price went complex on this one, if it's an WXY then we should see price turn around 8800.

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Price came down as expected in to our buy zone. But don't buy just yet.

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78.6% level touched.
If it holds, we are good to go

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We should be in the last moments of this impulse down. Price is at the 78.6% retracement level, which is an important support lvl. We also have a bunch of other Fib levels converging at the same zone. This should give a more than 500pips long opportunity.

ElliottWaveBelgium

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ElliottWaveBelgium

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