Ready for further decline.
• EUR/GBP is trading lower. The technical
structure remains negative as long as the
resistance at 0.8530 (25/04/2017 low) holds.
Expected to show continued weakness until
support given at 0.8304 (05/12/2017 low).
• 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)
