**EUR/GBP Rallies Toward Key Resistance as Bulls Maintain Control**
The Euro strengthened against the British Pound on Monday, climbing to the 0.8540 level after finding solid support at 0.8530 following Friday’s modest retreat. The cross pair continues its positive momentum that began from mid-July lows of 0.8455, with bullish traders now targeting three-week highs around the 0.8555 resistance zone.
The technical setup suggests Euro strength is gathering pace against Sterling, with the uptrend remaining intact since mid-month. Immediate support has proven resilient at 0.8530, providing a foundation for further gains. A break above 0.8555 could accelerate EUR/GBP’s advance and open the door to extended upside.
Traders watching this cross should monitor whether bulls can push through the 0.8555 ceiling, which would confirm continuation of the rally initiated three weeks ago. Any failure at resistance could trigger profit-taking back toward support levels.
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FXnCO Insight
** Watch for a decisive break above 0.8555 to position for extended EUR strength, while holding 0.8530 support remains critical for maintaining the bullish structure.
Source: FXStreet