FX.co ★ EUR/GBP

Without much activity, but buyers are aiming to continue the EURGBP rise. It’s still too early to draw conclusions, of course; if we seriously talk about buying, we need to consolidate above 0.8575. If this plan can be implemented, then the upside move can continue towards 0.8605, and after that a rise to 0.8635 will become realistic. Downside scenarios are still possible: a return of EURGBP below 0.8545 may develop into a decline to 0.8530 and 0.8515. If in the end it manages to drop below 0.8515, then the move down can continue towards 0.8485 and 0.8455, and further on we’ll need to assess the prospects based on the actual situation.