The EUR/GBP pair has been ranging since the 16th of February 2016, with the price moving between the levels of 0.7717 and 0.7845.
On Friday, the pair fell aggressively from 0.7845 down to 0.7707. Today, the EUR/GBP pair open at 0.7783, after consolidating for a while it rise up to 0.7830, the daily high. In the event that the buyers keep exerting strong pressures and the price breaks above 0.7829, the pair could escalate up to 0.7897.
Alternatively, in the scenario where the sellers manage to gain momentum and exert enough pressures to force the pair below 0.7777, the price could decelerate down to 0.7762 and 0.7747 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.