EURGBP: Larger recovery sounds likely - Natixis

According to Micaella Feldstein, Research Analyst at Natixis, upside parallels are still intact on the daily chart and the weekly indicators have turned around and against this backdrop, a larger recovery sounds likely in the next days for EURGBP.

Key Quotes

“A break above the resistance at 0.8750 (weekly parabolic) would add weight to this bullish view, unleashing strong upside potential towards 0.8787-0.8803 (daily Bollinger upper band), the 0.8818-0.8836 area (Fibonacci extensions) and 0.8865-0.8880 (rising trendline). The supports are located at 0.8687, at 0.8640/54, at 0.8584-0.86 and at 0.8537.”