EUR/GBP - Changing Long-Term Momentum?
EUR/GBP is increasing. The technical structure suggests that there are strong buying interests. Hourly resistance lies 0.7694 (intraday high) and hourly support is given at 0.7350 (25/12/2015 low). Expected to further consolidate before entering into another upside move.
In the long-term, prices tend to reverse from the underlying declining trend. The general oversold conditions suggest a growing upside momentum. A key resistance at 0.7592 (03/02/2015) has been broken.