EUR/GBP At Support

The Euro has been going downhill against it's peer the Sterling. In the recent days we've seen a depreciation from 0.8930 to a low of 0.8760 as the pair lost due to a strong Sterling and strong UK outlook for the Brexit situation.

Currently, price has been halted at the bottom level at 0.8760 and is now trading slightly higher at 0.8782. If the uptrend continues we could see it reach first bull target at 0.8845 before the end of the week.

We would need some positive news from the EU in order to boost the move as we already have relatively stable technical outlook that could favor a move to to the area 0.8920 - 0.8990.

If the support is broken, next bear target and profit taking could occur at 0.8700.

Chart: EUR/GBP H4