EUR/GBP keeps the previous day’s bounce off 50% Fibonacci retracement of April 05-16 upside. Previous support line, 200-HMA becomes a tough nut to crack for the bulls. EUR/GBP picks up bids to the intraday top of 0.8640, up 0.06% on a day, while heading into Wednesday’s European session. In doing so, the cross-currency pair holds onto the previous day’s U-turn from two-week lows. While upbeat MACD backs the run-up beyond the 0.8600 threshold, a confluence of 200-HMA and the resistance line from April 05, around 0.8660-65, becomes the key hurdle to watch. In a case where the EUR/GBP bulls dominate past-0.8665, odds of the pair’s rally to the 0.8700 round figure and the monthly top surrounding 0.8720 can’t be ruled out. Meanwhile, pullback moves may recall the 0.8600 threshold back to the chart but any further weakness may dwindle around the latest low of 0.8588, due to the key Fibonacci retracement level. Should the pair drops further below 0.8588, the 61.8% Fibonacci retracement level close to 0.8565 and the 0.8500 psychological magnet may entertain the EUR/GBP bears before directing them to the monthly low of 0.8472. EUR/GBP hourly chart Trend: Further upside expected 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 USD/JPY risks a deeper correction near-term – UOB FX Street 2 years EUR/GBP keeps the previous day's bounce off 50% Fibonacci retracement of April 05-16 upside. Previous support line, 200-HMA becomes a tough nut to crack for the bulls. EUR/GBP picks up bids to the intraday top of 0.8640, up 0.06% on a day, while heading into Wednesday's European session. In doing so, the cross-currency pair holds onto the previous day's U-turn from two-week lows. While upbeat MACD backs the run-up beyond the 0.8600 threshold, a confluence of 200-HMA and the resistance line from April 05, around 0.8660-65, becomes the key hurdle to watch. In a case where the EUR/GBP bulls dominate… 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.