Forex: EUR/GBP in session highs, eyes on 0.8290

FXstreet.com (Barcelona) - The pair continues its relentless upside helped by an unstoppable euro on Friday, eyeing 0.8290 as of writing.

“Prices are testing resistance at 0.8229, the 76.4% Fibonacci expansion. This barrier is reinforced by the top of a rising channel set from mid-September (0.8244). A break above the latter level targets the 100% expansion at 0.8273. Near-term support is at 0.8201, the 61.8% level, with a move below that exposing the 50% Fib.at 0.8179”.

The pair is up 0.80% at 0.8275 with the next barrier at 0.8287 (high Jan.11) ahead of 0.8325 (high Apr.4) and then the psychological level at 0.8400
On the downside, a dip below 0.8205 (low Jan.11) would bring 0.8145 (low Jan.10) en route to 0.8134 (low Jan.9).

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