The EUR/GBP cross attracts some dip-buying near the 0.8650-0.8645 region on Thursday and builds on its steady intraday ascent through the first half o
EUR/GBP gains some positive traction on Thursday and snaps a two-day losing streak. The technical setup favours bullish traders and supports prospects for additional gains. A convincing break below the 0.8600 mark is needed to negate the constructive outlook. f the European session. Spot prices touch a fresh daily peak, around the 0.8675-0.8680 zone in the last hour and for now, seem to have snapped a two-day losing streak.
The momentum could get extended further towards the 0.8775-0.8780 resistance before spot prices reclaim the 0.8800 round figure. On the flip side, the 0.8645-0.8640 zone, or the weekly trough touched on Wednesday, might continue to protect the immediate downside. Some follow-through selling should pave the way for a slide towards the 100-day SMA, currently pegged near the 0.8600 mark.
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