The EUR/GBP pair has been oscillating between the levels of 0.7433 and 0.7357, since the 29th of September 2015.
The currency pair bounced during the course of the day on Thursday, as the previous stabilisation area served as support. Provided that the buyers gain enough strength to push the price above the top of the range of Thursday’s session at 0.7400, the pair could reach 0.7409 and 0.7436 in extension.
Alternatively, in the scenario where the sellers keep exerting heavier downward pressures and force the price below the level of 0.7353, the price could reach 0.7303.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.