EUR/GBP Price Analysis: Bulls looking to the 38.2% Fibo retracement of daily bearish impulse

• EUR/GBP bulls are stepping up to the table.
• The cross has been held up at critical support and the focus is on the upside at this juncture.  

EUR/GBP is on the verge of a significant upside correction and the following illustrates were the hourly chart’s resistance needs to break first.  

Weekly chart

Daily chart

The daily chart has the price headed towards the 38.2% Fibonacci having met weekly support.

Hourly chart

The hourly chart shows that the price is moving into a bullish environment and will be expected to test the trendline resistance.  

A break of which and restest of what will then become a counter trendline would lead to the anticipation of a bullish impulse to the target.