EUR/GBP Collapse

EUR/GBP descent continues, breaking hourly support at 0.8716 (01/02/2018) and approaching hourly support at 0.8687 (25/01/2018 low). The technical structure suggests further short-term decrease.

In the long-term, the pair has largely recovered from 2015 lows. The technical structure suggests further upside pressure. Strong resistance can be found at 0.9500 (psychological level) while support remains at 0.8304 (05/12/2016 low). The pair is trading below its 200 DMA.