The Pound rallied after average earnings jumped in the past three months. The euro’s latest rebound was capped by 0.8565, where strong selling interest pushed it back to the base.
From the daily chart’s perspective, the pair moves south in a falling channel in spite of a choppy path. A break below the floor at 0.8510 could send the price towards 0.8480, key support from April’s rally.
On the upside, even if buyers succeed in clearing 0.8565, 0.8595 could be a tough resistance to crack in the short term.
