“¢ The post-BoE GBP upsurge lacks any follow-through and helps regain positive traction. “¢ Moves higher for the second straight session despite mixed Ifo business climate survey. Having posted a session low level of 0.8781, the EUR/GBP cross turned higher and set over one-week tops in the last hour. The cross built on last week’s rebound from 0.8725 area and is now looking to extend the momentum further beyond the 0.800 handle. With investors looking past the latest hawkish BoE MPC vote split, prolonged Brexit uncertainties kept the GBP bulls on the defensive and was seen driving the cross higher. The latest leg of an uptick since the early European session could further be attributed to a goodish pickup in the demand for the shared currency despite not so impressive German Ifo business climate index, which retreated for the fifth consecutive session. It, however, remains to be seen if bulls are able to maintain their dominant position or the up-move once again fizzles out near the very important 200-day SMA, all against the backdrop of a dovish ECB outlook. Technical levels to watch Immediate resistance is pegged near the 0.8820 region (200-DMA) and is followed by the 0.8840 heavy supply zone, above which the cross might aim towards reclaiming the 0.8900 handle. On the flip side, the 0.8780 level now seems to have emerged as an immediate support, which if broken might turn the cross vulnerable to slide back below mid-0.8700s towards retesting post-BoE swing lows near the 0.8730-25 zone. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP futures: extra upside unsustainable FX Street 5 years "¢ The post-BoE GBP upsurge lacks any follow-through and helps regain positive traction. "¢ Moves higher for the second straight session despite mixed Ifo business climate survey. Having posted a session low level of 0.8781, the EUR/GBP cross turned higher and set over one-week tops in the last hour. The cross built on last week's rebound from 0.8725 area and is now looking to extend the momentum further beyond the 0.800 handle. With investors looking past the latest hawkish BoE MPC vote split, prolonged Brexit uncertainties kept the GBP bulls on the defensive and was… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.