• EURGBP reversed from support area
• Further gains likely toward 0.9010
EURGBP yesterday reversed up from the support area lying at the intersection of the key support level 0.8900 (former monthly bottom from July, which stopped the previous medium-term ABC correction (4)), lower daily Bollinger Band and 50% Fibonacci correction of the previous sharp upward impulse from the start of May. With the moderate bearish Sterling sentiment seen across the markets today – EURGBP is likely to remain under bullish pressure today and continue to rise toward the next resistance level 0.9010 (former support from the end of August, which stopped the previous impulse wave ①).
