• EURGBP reversed from support area
• Further gains are likely
EURGBP continues to rise after the recent upward reversal from the support area lying between the key support level 0.8800 (former resistance from June) and the 38.2% Fibonacci correction of the previous sharp upward impulse from the end of May.
The upward reversal from this support area stated the short-term corrective wave (b) of the active ABC correction 4 from the major resistance level 0.8960.
EURGBP is likely to re-test the aforementioned resistance level 0.8960 (top of the previous impulse wave 3).