EUR/GBP took another stab at the minor resistance-level at 0.8814 and failed again. We think that the pair will try to break this resistance and the next attempt will be successful. It may lead to more upside pressure towards the real key-resistance at 0.8866. Only a break above here will release the energy for a much stronger rally towards and above the 0.9499 peak.
In the short-term, we will see support at 0.8752 and again at 0.8736, which might be tested before the pair fixes at minor resistance at 0.8814.
R3: 0.8866
R2: 0.8814
R2: 0.8788
Pivot: 0.8758
S1: 0.8736
S2: 0.8698
S3: 0.8670
Trading recommendation:
We are long EUR from 0.8765 with our stop placed at 0.8670
The material has been provided by InstaForex Company - www.instaforex.com