EUR/GBP is currently in a minor counter-trend correcting the first rally from 0.8671 to 0.8802 once this correction is complete near 0.8737 we expects a new impulsive rally through key-resistance at 0.8866 confirming that a new impulsive rally is developing for an ultimate break above the 0.9499 peak.
Ideally support at 0.8737 will be able to protect the downside, but a failure will bring support at 0.8721 into play as the barrier to the downside before higher again.
R3: 0.8866
R2: 0.8819
R1: 0.8792
Pivot: 0.8775
S1: 0.8752
S2: 0.8737
S3: 0.8721
Trading recommendation:
We are long EUR from 0.8765 with our stop placed at 0.8670
