The euro currency is starting to rise against the British pound, although the move higher appears to be technical rather than fundamentally driven. The four-hour time frame shows the EURGBP pair could retest a former key breakout area from a symmetrical triangle pattern. The location of the former breakout area is found close to the 0.8600 level, which is also close to the pairs 200-period moving average on the mentioned time frame.
The EURGBP pair is only bullish while trading above the 0.8560 level, key resistance is found at the 0.8600 and 0.8620 levels.
EURGBP pair is only bearish while trading below the 0.8560 level, key support is found at the 0.8530 and 0.8500 levels.
