EURGBP previously reversed up from the powerful support zone lying between the long-term support level 0.88800 (which has been reversing this currency pair from the middle of May) and the lower daily Bollinger Band. The upward reversal from the support level 0.88800 started active short term impulse wave (iii) – which belongs to wave 3 from the start of November. Given the strength of the support area surrounding the support level 0.88800 – EURGBP is likely to rise further toward the next resistance level 0.89600 (intersecting with the daily down channel from September).