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EUR/GBP Lack Of Follow-Through

EUR/GBP bounced back at the 0.8930 range and starts a bearish phase, approaching hourly support at 0.8883 (13/11/2017 low). Hourly resistance at 0.8982 (28/11/2017 high) is distanced. The short-term technical structure suggests further downward moves.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low). The pair is trading above its 200 DMA.

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