EUR/GBP is decreasing after reaching 0.8792 high, trading at 0.8753 and heading along the 0.8743 range. EUR/GBP bearish pattern started in March is somewhat weakened. Hourly support and resistance are given at 0.8621 (17/04/2018 low) and 0.8816 (29/01/2018 high). The technical structure suggests short-term decrease.
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.
