EUR/GBP reversed the weekly bearish gaps and climbed to session tops. The set-up, though positive, warrants some caution for bullish traders. The EUR/GBP cross closed the weekly bearish gap and jumped to fresh session tops, albeit struggled to extend the momentum and failed ahead of the 0.8400 round-figure mark. The mentioned handle marks a previous strong horizontal support breakpoint, now turned resistance, and coincides with 38.2% Fibonacci level of the 0.8598-0.8282 recent downfall. A convincing break through might be seen as a key trigger for short-term bullish traders and has the potential to lift the cross further towards testing the 0.8460-65 confluence resistance. The latter comprises of 50-day SMA and 1-1/2 month-old descending trend-line, which if cleared should pave the way for an extension of the ongoing recovery from over two-month lows. Meanwhile, technical indicators have been gaining some traction on hourly charts but are yet to catch up with the recent positive move, warranting some caution before placing bullish bets. On the flip side, the cross might continue to attract some buying near the 0.8350-40 region, which if broken might negate any positive bias and turn it vulnerable to retest sub-0.8300 levels. EUR/GBP daily chart 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 EUR/USD: Coronavirus spreads euro’s gap lower FX Street 2 years EUR/GBP reversed the weekly bearish gaps and climbed to session tops. The set-up, though positive, warrants some caution for bullish traders. The EUR/GBP cross closed the weekly bearish gap and jumped to fresh session tops, albeit struggled to extend the momentum and failed ahead of the 0.8400 round-figure mark. The mentioned handle marks a previous strong horizontal support breakpoint, now turned resistance, and coincides with 38.2% Fibonacci level of the 0.8598-0.8282 recent downfall. A convincing break through might be seen as a key trigger for short-term bullish traders and has the potential to lift the cross further towards testing the… 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.