EURGBP cryptocurrency can be expected to rise to the next round resistance level 80000.00 (former support from the start of May).
- EURGBP recently reversed from support zone
- Likely to rise to resistance level 0.8730
EURGBP currency pair recently reversed up from the support zone lying between the strong long-term support level 0.8600 (which has been reversing the price from last July, as can be seen from the dilly Bitcoin chart below), lower daily Bollinger Band and the 50% Fibonacci correction of the upward impulse from the end of May of 2025. The upward reversal from this support zone created the daily Japanese candlesticks reversal pattern Bullish Engulfing, which stopped the previous intermediate ABC correction (2).
Given the strongly bullish euro sentiment seen across the FX markets today, EURGBP currency pair can be expected to rise to the next resistance level 0.8730 (top of the previous impulse wave (1)).