EUR/GBP Resumes Rebound from 0.8618, Upside Bias Targets 0.8740

EUR/GBP's rebound from key 0.8618 support (38.2% Fibonacci) has resumed per latest outlook, shifting intraday bias to the upside toward 0.8740 resistance while 0.8695 support holds. The pair surged to a three-week high of 0.8697 on May 12 amid Labour's heavy local election losses and PM Starmer resignation calls, offsetting earlier GBP gains from UK retail sales (+0.7% MoM) and BoE/ECB rate holds. Post-May 14 UK Q1 GDP beat (+1.1% YoY vs. 0.8% forecast), choppy action around 0.8659 persists but support defends neutral-upside tilt, capped below 55-day EMA near 0.8677.