Consolidating above 0.8700.
• EUR/GBP's bullish momentum is fading. The
technical structure had turned positive since the
pair has broken resistance at 0.8530 (25/04/2017
low). Strong support can be found at 0.8304
(05/12/2017 low). Expected to see a further
bullish breakout towards resistance at 0.8787
(13/03/2017 high).
• In the long-term, the pair has largely recovered
from recent lows in 2015. The technical structure
suggests a growing upside momentum. The pair
is trading above from its 200 DMA. Strong
resistance can be found at 0.9500 psychological
level.
(By Yann Quelenn)
