EUR/GBP is trading sideways along the 0.8730 range following recent decline at 0.8668 (22/03/2018 low). The pair is expected to increase slightly at 0.8740 in the short-term. Hourly support and resistance are given at 0.8687 (25/01/2018 low) and 0.8834 (14/12/2017 high). The technical structure suggests shortterm sideways trading 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.
