EUR increased across the board versus GBP
4/7/2017 11:53:00 AM
According to Forex market, the EUR/GBP cross increased some fresh traction on Friday, although has resisted to develop early gains more beyond mid-0.8505s.
Bulls would be looking at a constant momentum beyond 0.8577 immediate persistence, above which the cross is probable to expand the up-move towards 0.8597 area before rushing back towards mid-0.8615s horizontal hurdle. In the meantime, decline back below 0.8533 level is probable to speed up the slide back towards the 0.8503 handle, on the way 0.8485 support area.
FOREX market analysis by FxErvin.