The common European currency has been trading between the range of 0.8836/0.8686 against the British Pound since the beginning of April.
Everything being equal, the EUR/GBP currency pair will most likely aim for the 200– period simple moving average at 0.8836 during the following trading sessions. Furthermore, technical indicators suggest a buying signal on the weekly time-frame chart.
However, a resistance cluster formed by the weekly and monthly pivot points at 0.8759 could provide resistance for the currency exchange rate within this week’s trading sessions.
