Bullish consolidation.
(By Yann Quelenn)
• EUR/GBP is trading sideways. Yet, the pair is
facing selling pressures. As long as prices remain
below the resistance at 0.8899 (19/09/2017 low),
the short-term technical structure is biased to
the downside. Hourly support is given at 0.8746
(27/09/2017). Resistance lies at 0.8899
(19/09/2017 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).
