EUR/GBP Slight Increase

EUR/GBP bearish consolidation phase pauses following recent collapse at 0.8745. The pair is starting a recovery phase at the 0.8770 range and is expected to head along 0.8790. Hourly support and resistance are given at 0.8687 (25/01/2018 low) and 0.8834 (14/12/2017 high). The technical structure suggests short-term increase.

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 above its 200 DMA.