EUR/GBP up from lows in an offered phase

FXstreet.com (London) - EUR/GBP is moving lower overall, but meanwhile, the pair is off from the lows which have been 0.8422 so far.

Bulls might be cautious in the EUR/GBP here and as Garther Berry at UBS puts it. “…we believe downside in the cross remains the favoured channel to express a cautious view on the effectiveness of the BoE's forward guidance. On a 3m basis GBP remains the best-positioned currency in G10”.

EUR/GBP levels

The 20 DMA .8534, 50 DMA is .8590, the 200 DMA is .8487. RSI (14) reads 49.56. Supports are ascending from .8326, .8355, .8364, .8392. Spot is currently .8435 while resistances are .8466, .8488 and .8505