• EURGBP reversed from resistance zone
• Likely to fall to support level 0.8580
EURGBP currency pair recently reversed down from the resistance zone lying between the resistance level 0.8650 (which has been reversing the price from the middle of May), upper daily Bollinger Band and the 50% Fibonacci correction of the downer impulse from April. The downward reversal from this resistance zone is aligned with the clear daily downtrend inside which EURGBP currency pair has been moving from last December.
With the rising bullish sterling sentiment seen across the currency markets today – EURGBP currency pair can be expected to fall further toward the next support level 0.8580 (which has reversed the currency pair multiple times from May).