FXStreet – The jump over the resistance area at 0.8544/0,8560 (smoothing line of the weekly Bollinger bands) highlights the bullish Momentum in the currency pair EUR/GBP. At the same time volatility jumped, and the quantitative indicators, generated a series of buy signals.
Against this Background, it is likely to be in the coming days, a greater rally in the air. The first objective of the course is defined by the downward trend line at 0,8630/0,8646. A Spurt of it would put further upward potential in the direction of 0,8674 (Fibonacci Extension) and 0,8720 (38.2% Fibonacci Retracement of 0,9403 to 0,8303).
Supports lie at 0.8544-0,8560, 0.85, 0,8453-0,8471, 0,8380-0.84 and at 0,8350.
** FXStreet News Editorial, FXStreet**