EUR/GBP: correction is needed before further bullish impulse

As it can be inferred from the graph, the price has printed strong bullish candles and successfully rejected the key area of support portrayed on the chart. Now, after an impulsive move, a correctional one is needed before further impulses resume. Thus, we are closely monitoring the price action and waiting for the price to pullback to the highlighted level before we enter long positions and aim for the initial target that is illustrated on the graphic.