FXstreet.com (Barcelona) - After it falls around 200 pips, the EUR/GBP has found support at 0.9284 level from the 0.9423. Currently the pair is trading around 0.9345/55 band.
EUR/GBP is rising back above 93.50 after found support at 0.9284 in the early American session. Last two hours, the pair has risen around 100 pips from the support to near to 93.75/80 level.
According to the KBC Market Research Desk, Pair exploded above daily Downtrend line off high and above .9083/ .9072, with 2nd target at 0.9507 having been approached. KBC provides us with their level: 1st support area at .9382 (daily Short Term Moving Averageâ†‘), with next levels at .9358 (daily envelope bottom + reaction low hourly). 0.9320 = previous reaction high: ideal area to stay above to keep current short term positive tone of â‚¬ intact. 1st Resistance area at .9452 (reaction high hourly), with next levels at.9477 (idem + daily envelope top), ahead of .9490/ .9507 (last week high/ see above), where pause favored. If wrong, next levels at .9520/ .9529 (Jan 26 high/ 76.4% .9805 to .8637): tough on 1st attempts.