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  • EUR/GBP is up about 40 pips this Thursday as the market has been supported by the 0.8800 level in the last 24 hours.
  • EUR/GBP Is currently trying to breakout above its daily high however the currency crosses already exceeded its average daily range by 15 pips potentially limiting any further upside momentum for the day.  
  • However, the FOMC meeting minutes at 18.00 GMT will likely provide great volatility on EUR/USD so EUR/GBP might be indirectly affected as well.  

EUR/GBP 15-minute chart

Spot rate:                0.8850

Relative change:      0.46%      
High:                       0.8860
Low:                        0.8805

Trend:                     Neutral

Resistance 1:         0.8849-0.8860 weekly 50-period SMA and current Thursday’s high  
Resistance 2           0.8900 figure  
Resistance 3:          0.8967 March 7 high

Support 1:              0.8822-0.8840 area, 200-day SMA and supply level
Support 2:              0.8800 figure
Support 3:              0.8780 daily 50-period SMA
Support 4:              0.8764 June 8 low