EUR/GBP technical analysis: Bounces off 200-HMA towards immediate resistance-line
|- 200-HMA offers strong downside support.
- 0.8905 can limit the pair’s rise past-trendline break.
Despite bouncing off 200-HMA, EUR/GBP’s upside is less sure as it trades near 0.8854, beneath short-term trend-line resistances, ahead of the European open on Thursday.
While the break of 0.8865 level comprising adjacent resistance-line can trigger the pair’s fresh advances towards 0.8880, the current month high around 0.8905 may limit additional rise.
Should there be a price rally past-0.8905, low of December-end near 0.8930 could arrive on the chart.
If at all the quote slips beneath 200-hour moving average (HMA) level of 0.8839, 0.8820, 0.8805 and 0.8790 could lure sellers.
EUR/GBP hourly chart
Trend: Pullback expected
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