FXStreet Karen Jones, head of Technical analysis at Commerzbank, explained that the perspective for the currency pair in the short-term neutral to bearish.
The currency pair EUR/GBP is listed under the smoothing lines in the Form of the 55 — and 200-day line (act. in the case of 0,8550/97), which are reinforced by the seven-month resistance line at 0,8584. It rises to the North, and should test the key barriers — a break above that, however, is not to be expected.
As long as this resistance is not skipped area, is a Test of the key support at 0,8334/04 in the air. A slide including and is back at the lows of July 2016 0,8252 in the focus.
The perspective is negative, as long as the currency is quoted in the smoothing lines in the Form of the 55 — and 200-day line. It should skip the line of resistance 2016-17 at 0,8590, we may have to revise our forecast.
** FXStreet News Editorial, FXStreet**