The EUR/GBP pair has been trending upwards since Friday, the 18th of March 2016, with the buyers leading the price from as low as 0.7773 to as high as 0.7946.
The Sterling pound fell to 15-month lows against the single currency today, sending EUR/GBP at highs of 0.7946, the most since December 2014. Currently,as of writing the pair is trading at 0.7898.
In the event that the bears to overweigh bulls and manage to push the price below 0.7858, the price could find support at 0.7826 and 0.7805 respectively.
On the flip side, in the scenario where the buyers keep pushing the pair price up and the price breaks above 0.7946, profit targets could be set at 0.7996 and 0.8054 in extension.
Please note: The content in this daily technical analysis article should not be taken as investment advice. It comprises our personal view.