EUR/GBP dipped slightly lower than expected and didn't find support before a test of 0.8689. This corrective decline from 0.8814 is more than enough to reset, what we expect is the start of a new impulsive uptrend, which should break above the short-term key resistance at 0.8866 to confirm more upside pressure, that ultimately should break above the peak at 0.9499.
Short-term a break above minor resistance at 0.8758 will be a strong indication of a corrective bottom being in place for renewed upside pressure to 0.8866 and above.
R3: 0.8866
R2: 0.8814
R1: 0.8758
Pivot: 0.8720
S1: 0.8688
S2: 0.8670
S3: 0.8621
Trading recommendation:
We are long EUR from 0.8765 with our stop placed at 0.8670
