EURGBP - Reversal

EURGBP (1H) - short term bullish bias

The pound sterling is definitely feeling the pain across the board for lack of optimistic catalysts. The euro met robust buying interest around the daily support area of 0.8530 and we may expect this to be the base for a prolonged rebound. Sentiment turned upbeat after the price closed above the major resistance of 0.8570. The latest momentum above 0.8580 along with a bullish MA cross is a confirmation that the price is ready to take off for the next few days.

Key support: 0.8560
Key resistance: 0.8600