Growing demand.
• EUR/GBP is strengthening despite ongoing
bearish consolidation. The technical structure
has 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 further continued increase
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 )
