• EURGBP reversed from key support level 0.8535
• Likely to rise to resistance level 0.8600
EURGBP currency pair recently reversed up from the key support level 0.8535 (low of the previous impulse wave 1 form June, which has been reversing the price from the start of this month) – strengthened by the lower daily Bollinger Band. The upward reversal from this support level 0.8535 stopped the previous short-term downer impulse wave 3 from the start of July.
Given the strength of the support level 0.8535 and the improvement in euro sentiment as seen across the FX markets today – EURGBP currency pair can be expected to rise further toward the next resistance level 0.8600 (which has been reversing the price from the start of June).