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EUR/GBP - Support At 0.8450 Is At Stake

EUR/GBP has reversed very quickly since the pair reached hourly resistance is given at 0.8645 (31/01/2017 high) while support is given at 0.8450 (03/01/2016 low). The road is wide open towards support at 0.8304 (05/12/2016) if resistance at 0.8645 holds.

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 above from its 200 DMA. Strong resistance can be found at 0.9500 psychological level.

Daily Technical Report

 

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