EUR/GBP turns lower as traders eye key support zone

Gregor Horvat Wavetraders

EURGBP made some nice recovery from 2025 lows, with the 7% gain. However, from both Elliott wave and cycle standpoints, EURGBP seems to have a completed complex WXY structure within wave D of an unfinished A-B-C-D-E triangle. So, if we are correct, it's now slowing down within the final wave E, which can take some time, at least in the first half of 2026, as wave E will likely be unfolded in three legs (A)(B)(C). Therefore, after the current wave (B) correction, which can be a bearish triangle, beware of more weakness within wave (C) of E down to 0.85 - 0.84, maybe even 0.83 support area near the lower triangle line.

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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