FXstreet.com (Barcelona) - EUR/GBP has fallen around 100 pips from today's opening price at 0.8902 to 0.8792, intra-day low. Currently the pair is trading around around 0.8795/0.8805.
yesterday, the pair falls 1.12% from the opening price at 0.8999, reaching 0.9003 as maximum and 0.8889 as minimum, to close at 0.8899.
According to Valeria Bendarik, FXstreet.com collaborator, GBP strength is making EUR/GBP tumble to a fresh 6 week-low. The pair has just tested the base of a descendant 4 hours channel, around 0.8830, and looks quite oversold in the mentioned time frame, yet with no technical signs of reversal underway. Break under mentioned point will find next supports at 0.8880 and 0.8762, both maximum and minimum congestion zones. Above 0.8853 the pair can return to 0.8800, yet the upside seems limited, as long as Pound keeps actual strength
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