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EUR/GBP - Bullish Breakout

EUR/GBP's bullish flag turned out to be true. The pair is now heading towards resistance at 0.8787 (13/03/2017 high). Key resistance is given at 0.8854 (15/01/2017 high). Hourly support can be found at 0.8605 (23/03/2017 low. Expected to show continued weakness.

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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