Medium-term bullish.
(By Yann Quelenn)
• EUR/GBP is trading around its highest levels of
the year despite ongoing consolidation. Hourly
resistance lies at 0.9087 (08/08/2017 high) has
been broken. Hourly support is given at a
distance at 0.8742 (16/06/2017 low). Downside
risks are nonetheless important.
• 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.
