Elliott Wave analysis of the EUR/GBP market on the 4-hour timeframe.
Wave B marks the end of a corrective phase, where the price moved downward in a corrective wave structure.
Impulse move upwards: After reaching Wave B, the price started a strong upward move, potentially confirming the beginning of Wave C.
πΉ Wave 2 nearing completion, with a potential bottom forming around 112 USDT (invalidation level).
πΉ Bullish confirmation needed for a long-term rally towards new highs.
πΉ Breakout above key resistance would confirm Wave 3 uptrend.
π Next target: 300+ USDT if bullish wave structure holds.