EUR/GBP: consolidation of bids on the 0,84, waiting for bullish closing price

FXStreet – Currently is the EUR/GBP daily gain of 0.48 % at 0,8440, after the days high at 0,8455 and the Low at 0,8395 were formed.

The EUR/GBP is consolidating his commandments, and it looks like there is a closing price above the 200-hour SMA. The Few benefits of the poor UK data and the potential adjustment of the ECB’s Forward Guidance in the further course of the year, while EUR/USD remains at 1.08 supported.

More advocates for an increase in interest rates – Scotiabank

EUR/GBP technical levels

The analysts of Commerzbank explain that the Outlook for the EUR/GBP in the short term is negative. “The EUR/GBP remains subdued while trading below the 55 and 200-day MA of 0,8550797 takes place. Is strengthened this area by the 7-month resistance line of 0,8573. As long as this limit the rate is under downward pressure and a Test of the 0,8334/04-support is to be expected. A decline below is the the way to July 2016 Low of 0,8252.”

** FXStreet News Editorial, FXStreet**

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