EUR/GBP Price Analysis: Euro gains strength, nearing 0.8800 vs. pound

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  • EUR/GBP trades within the April’s range while heading towards the 0.8800 figure.
  • The level to beat for bulls is the 0.8800 resistance. 
 

EUR/GBP four-hour chart 

 
EUR/GBP is trading within familiar ranges as the market stays in the April’s range. The spot is having a reaction up and seems headed towards the 0.8800 figure in the short term. However, it is unclear if the move will be sustained above the mentioned resistance as the underlying bias remains bearish especially below the 200 SMA. On the flip side, bears will try to regain the 0.8750 support and the 0.8700 figure. 
 
 
Resistances: 0.8800, 0.8850, 0.8920
Support: 0.8750, 0.8700, 0.8650
 

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