Elliott wave Analysis: EURGBP and USD Index
Overall euro is trying to recover, so we are observing some of bullish developments against weak currencies like pound. There was a nice pop-up in price in the last 48 hours which is looking very aggressive so it is seen as an impulse in progress. If that’s the case then watch out for that 0.8811 support area where new bounce may show up after a fourth wave pullback.
EURGBP can be supported even by EURUSD if pair will resume up into wave three or c towards 1.1450. At the same time, DXY should stay then below November highs.
USD Index, 1h
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