FxWirePro: EUR/GBP tests 200-DMA resistance, decisive break above could fuel further gains
EUR/GBP chart - Trading View
EUR/GBP was trading 0.29% higher at 0.8941 at around 15:40 GMT, slightly lower from session highs at 0.8954.
The British pound remained buoyed as optimism about an upcoming vaccine in the UK outweighed Brexit uncertainty.
EUR/GBP has slipped lower from session highs but as Brexit talks drag on with no sign of any breakthrough just yet, the pound is bound to come under pressure.
Price action has bounced off strong support at Wedge base and further weakness only on decisive break below.
Major technical bias for the pair remains bearish. Upticks are likely to be limited. Scope for resumption of weakness.
The pair is testing 200-DMA which is strong resistance at 0.8956. Decisive break above will support further upside in the pair.