The pound continues to outperform, the biggest gainer among majors. EUR/GBP set to test uptrend line around support at 0.9000. The EUR/GBP pair resumed the decline after a pause on Wednesday. It bottomed at 0.9015 and rebounded. The recovery was capped by 0.9050. In the very short-term, technical indicators favour the bearish scenario but EUR/GBP continues to trade above an uptrend line. On Thursday it dropped below the 20-day moving average and is appears to be ready for a test of the 0.9000 support area. The 0.9000 is not only a round number and a horizontal support, but is also where the uptrend from May stands. A break lower would negate the bullish bias, leaving the euro vulnerable to more losses. The first target stands at 0.8940. If the euro holds above 0.9000 over the next days, it should rebound. Above 0.9100, it will likely gain momentum. A weekly close above 0.9130 would suggest more gains ahead, north of 0.9200. 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 US GDP: Broad based spending declines in Q2 – Wells Fargo FX Street 3 years The pound continues to outperform, the biggest gainer among majors. EUR/GBP set to test uptrend line around support at 0.9000. The EUR/GBP pair resumed the decline after a pause on Wednesday. It bottomed at 0.9015 and rebounded. The recovery was capped by 0.9050. In the very short-term, technical indicators favour the bearish scenario but EUR/GBP continues to trade above an uptrend line. On Thursday it dropped below the 20-day moving average and is appears to be ready for a test of the 0.9000 support area. The 0.9000 is not only a round number and a horizontal support, but is also where… 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.
