EUR/GBP recovery phase is interrupted after breaking hourly resistance at 0.8873 (10/01/2018), a consolidation phase along the 0.886 is likely. The pair is maintained between hourly support and resistance given at 0.8756 (04/12/2017 low) and 0.8929 (12/01/2018 high). The technical structure suggests short-term sideway 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 below its 200 DMA.
, a consolidation phase along the 0.886 is likely. The pair is maintained between hourly support and resistance given at 0.8756 (04/12/2017 low) and 0.8929 (12/01/2018 high). The technical structure suggests short-term sideway moves.){kind=link}