KeytoMarkets
Long

What do the EURGBP want to make a bounce?

FX:EURGBP   Euro / British Pound
UK Prime Minister Theresa May scheduled speech at the Conservative Party in Birmingham is the crucial driver for EURGBP in the near term.

The cross pulling back sharply after the failure against the 0.9000 marks and shifted back to the lower low and lower high pattern. The ST and NT essential support find at 0.8850 below here 0.8840 its 200MA exists.

The flip side, initial resistance seems to be at 0.8915. The erosion of the last Friday and Monday’s high appears at 0.8915 is highly encouraging us to forecast a more pronounced recovery to 0.8960, 0.9000 and 0.9015/0.9030.

If the euro cross lost the 200MA, we could not rule out a pullback to support at 0.8800 it’s 61.8 fib reaction (0.8620-0.9098 rally) and 0.8775 its 100MA (weekly).
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