EUR/GBP - Riding Downtrend Channel
EUR/GBP is riding short-term downtrend channel. Hourly support can be found at 0.8304 (05/12/2016 low) while hourly resistance is given at 0.8479 (05/12/2016). Expected to ride further lower towards 0.8400.
In the long-term, the pair has largely recovered from recent lows in 2015. The technical structure suggests a growing upside momentum. The pair is trading far above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.