FXstreet.com (Buenos Aires) - With Euro holding up and Gbp falling to the 1.6320 area, EUR/GBP regained the upside, after rebounding in the 38.2% of the last daily up leg from 0.8522 to 0.8769; with a weekly descendant trend line coming from past December highs at 0.9600, today around 0.8812, if the pair manages to overcome that level, next resistance for the pair comes at the mentioned 0.8769 level, past August high. Above this last, pair can regain some longer term upside momentum and approach to the 0.9000 area.

Failure to break above the trend line, and with daily indicators pointing to the downside, watch for the pair to turn lower, with longer term supports at 0.8710 and 0.8640, 61.8% of the mentioned rally.