EURGBP recently reversed down from the resistance zone located between the pivotal resistance level 0.90500 (top of the previous impulse wave (i)), upper daily Bollinger band and the 50% Fibonacci retracement of the earlier sharp downward impulse from the middle of March. Given the strength of the resistance level 0.90500 and the rising bullish sterling sentiment seen today – EURGBP is likely to extend the losses toward the next support level 0.89000 (low of the previous short-term correction (ii) from the start of June).