EURGBP currency pair can be expected to rise to the next resistance level 0.8670 (which reversed the price multiple times at the end of April).
- EURGBP reversed from long-term support 0.8610
- Likely to rise to resistance level 0.8670
EURGBP currency pair recently reversed from the support area between the strong long-term support level 0.86100 (which has been repeatedly reversing the price from July, as can be seen from the daily EURGBP chart), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the end of May. The upward reversal from this support area stopped the previous short-term impulse wave 3 from the middle of April.
Given the strength of the support level 0.86100 and the bullish euro sentiment that can be seen across the FX markets today, EURGBP currency pair can be expected to rise to the next resistance level 0.8670 (which reversed the price multiple times at the end of April).