Strengthening.
• EUR/GBP is strengthening. The technical has
turned positive since the pair has broken
resistance at 0.8530 (25/04/2017 low). Support
can be found at 0.8304 (05/12/2017 low).
Expected to see further consolidation around
0.8600.
• 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)
