EUR/GBP: Unimpressive Bounce Thus Far
EUR/GBP has thus far successfully tested the support at 0.7961. Hourly resistances for a shortterm bounce can be found at 0.8033 (intraday low) and 0.8065 (12/06/2014 high).
In the longer term, the break of the key support area between 0.8082 and 0.8065 (05/06/2014 low) opens the way for a full retracement of the rise that started at 0.7755 (23/07/2012 low). A break of the resistance at 0.8184 (14/05/2014 high) is needed to suggest some exhaustion in the long-term selling pressures.