EURGBP currency pair recently reversed up from the key support level 0.83800 (previous monthly low from the end of November), intersecting with the lower daily Bollinger Band. The upward reversal from the support level 0.83800 stopped the earlier sharp downward impulse wave (iii) from the middle of December. Given the strength of the support level 0.83800 and the oversold daily Stochastic – EURGBP currency pair can be expected to rise further toward the next resistance level 0.842000 (former strong support from middle of October).