EUR/GBP: Next potential hurdles are located at 0.8785 and at 0.8830/0.8875 – SocGen

Economists at Société Générale analyze EUR/GBP technical outlook.

Defence of 0.8650 could mean persistence in up move

EUR/GBP recently broke out above a multi-month trend line and attempted cross above the upper band of a base. It has gradually established itself above both 50-DMA and 200-DMA denoting regain of upward momentum. This is also highlighted by daily MACD which remains anchored within positive territory.

Defence of recent pivot low near 0.8650 could mean persistence in up move.

Next potential hurdles are located at 0.8785 and projections at 0.8830/0.8875.