EUR/GBP is bouncing back after recent strong decline. However, as long as prices remain below the resistance at 0.9176 (declining trendline), the short-term technical structure is biased to the downside. Hourly support given at 0.8982 (12/09/2017) has been broken. Strong resistance lies at 0.9306 (29/07/2017 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 above from its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).
