Looking at the EUR/GBP chart, we can see the climb from the 0.842 range on May 4 to the 0.8525 range on May 6 after a spike and hitting a high of 0.859 on May 7, which now acts as the closest temporary overhead resistance. Since then, it managed to consolidate above the 0.85, which now acts as the closest support level, and has been trading steadily in the 0.854 range where it was last found trading.
Today, we can expect a move towards the 0.859 range challenging the overhead resistance. If, however, it doesn’t manage to hold to the current level, then a move towards the 0.85 range can be expected.
