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EUR/GBP - Bouncing Within Uptrend Channel

EUR/GBP is bouncing on and off within an uptrend channel. Hourly support is given at 0.8880 (21/10/2016 low) while resistance is given at 0.9047 (30/10/2016 high).

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.

Daily Technical Report

 

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