Bouncing lower.
(By Yann Quelenn)
• EUR/GBP is consolidating after the sharp
increase. As long as prices are below the
resistance at 0.9046 (05/09/2017 high), the shortterm
technical structure is biased to the
downside. Hourly support is given at a distance
at 0.8733 (01/11/2017 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).
