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EUR/GBP Monitoring Resistance Area

EUR/GBP is bouncing upward and trade now above 0.88 range, distancing hourly support at 0.8687 (25/01/2018 low). Hourly resistance given at 0.8846 (19/02/2018) is drawing near while further resistance remains at 0.8929 (12/01/2018). The technical structure suggests further shortterm upside move.

In the long-term, the pair has largely recovered from lows in 2015. The technical structure suggests an upside momentum. The pair is trading below the range of its 200 DMA. Strong resistance can be found at 0.9500 (psychological level).

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