EURGBP runs into overhead resistance at 0.8644-48
The EURGBP fell earlier in the Asian session, but has rebounded in the European session. The price rise has taken the pair to a swing area in the 0.8644 – 48 area. That area was a brief floor back on March 21 and March 22 before crashing below the level.
On March 29, the pair stalled the rise near the level. Yesterday, the pair also stalled at the level. A move above will be needed to extend to the upside.
ON the downside, if the broken 61.8% at 0.8630 is breached, that should lead to more of a bearish tilt on the failure to extend above the swing area once again.
