EURGBP – Moving in the middle…

The continuing downward trend of the EURGBP seems set to continue in the long term as the pair broke a support of 0.8887, with intraday trading mainly on the downside. If the pair continues to trade below this broke support a new support of 0.8601 is likely. With relation to the upside a break of the resistance of 0.9024 may indicate short term rises to 0.9137 and above.
The long term medium range within 0.8399 and 0.9799 is still in place with the pair trading solidly within this frame. There is support at 0.8601 which may bring about a long term uptrend. On the upside a move above 0.9410 will help to prove that the pair has consolidated from 0.9799 and is heading for another high above this mark.