The pair is rebounding right now from a confluence area of projections and retracements of potential upwards rebound between 0.8870 and 0.8825. Also, the pair found support at the 200-day MA in the daily chart. Checking the daily candles chart, we can see how the price found a resistance at 0.8909. The pair will try to go up to that level, to hit new weekly highs before 0.90 pounds per euro. On the lower side, not breaking the resistance at 0.8909 could take the pair to new weekly lows, testing the strength of the fibo 61.8%.

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