Looking at EURGBP’s Chart, we can see the climb from the 0.842 range on the 4th of May to the 0.8525 range on the 6th of May after a spike and hitting a high of 0.859 on the 7th of May, which now acts as closest temporary overhead resistance. Since then it managed to consolidate above the 0.85 which now acts as the closest support level and has been trading steadily in the 0.854 range where it was last found trading.
Today, we can expect a move towards the 0.859 range challenging the overhead resistance.
If however, it doesn’t manage to hold to the current level then a move towards the 0.85 range can be expected.
(Click on image to enlarge)
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