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EUR/GBP Slight Increase

EUR/GBP is increasing following recent sideways trading price action, heading along the 0.8765 range. EUR/GBP bearish pattern started in March is weakened. Hourly support and resistance are given at 0.8668 (22/03/2018 low) and 0.8816 (29/01/2018 high). The technical structure suggests short-term increase.

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.

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