EUR/GBP Climbs Toward 0.8725 After Holding 0.8620 Support

EUR/GBP has recovered from repeated tests of the 0.8620-0.8630 zone in early-to-mid June and is now targeting 0.8725 as bullish momentum returns. The pair spent weeks trapped in a 0.8610-0.8728 range after breaching 0.8720 on 18 May, pressured by weak German data, risk-off flows, and a symmetrical-triangle breakdown. Improved risk appetite following a US-Iran peace deal and lower oil prices sparked the latest rebound, with wave analysts citing the 0.8620 support hold as the key trigger for further upside.