As we can see on the chart, October was a very successful month for the bulls on the EURGBP. From the long-term lows, the price is currently on the highest levels from the end of August; and this price action indicates that we can go even higher. During most of October, the price stayed in the triangle formation which was broken on the 22nd of October with an upswing. Increased momentum allowed the price to break the local 0.85 resistance which will now be the closest support. The closest major resistance is at 0.8630, but so far, it is too early to definitely say that the price will go there anytime soon. Sentiment stays positive for this pair, and will stay bullish as long as bulls manage to hold above the 0.85 support. Breaking this line can trigger a bigger bearish correction.
EUR/GBP" title="EUR/GBP" height="470" width="987">