EUR/GBP recovery phase stopped following recent descent at 0.8668, breaking hourly support at 0.8687 (25/01/2018 low). The pair is heading along the 0.8725 range. Hourly support and resistance are given at 0.8687 (25/01/2018 low) and 0.8652 (08/06/2017 low). The technical structure suggests further short-term decrease.
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 below its 200 DMA.
