Euro notes in denominations of fives and tens are arranged for a photograph in London, U.K., on Wednesday, Jan. 18, 2012. The euro strengthened and commodities rallied as an official at a Group of 20 nation said the International Monetary Fund is proposing a $1 trillion expansion of its lending resources. U.S. index futures rose before Goldman Sachs Group Inc. reports earnings. Photographer: Simon Dawson/Bloomberg via Getty Images
EURGBP recently reversed up from the support area lying between the powerful, long-term support level 0.8340 (which has been reversing the price from May), lower daily Bollinger Band and the 38,2% Fibonacci correction of the previous upward price move from May.
The upward reversal from this support area started the active short-term correction 4.
EURGBP is expected to rise further toward the next resistance level 0.8600. Strong support remains at the support level 0.8340.
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