EUR -> Euro -> Currency of Euro Zone GBP -> British pound -> Currency of United Kingdom The EUR/GBP Currency pair represents the value of 1 Euro in British Pound.
The pair EUR/GBP has continued its rebound and is currently testing a pullback on the resistance at 0.8050. All indicators are bullish. The bearish gap which ocurred at the opening is still not filled in. All indicators are bearish. The pair is still moving into a bearish channel (purple lines). We continue to advise short positions as far as 0.8050 is resistance. A return below 0.80 will comfort our bearish feeling. The breakout of 0.7950 will give a new sell signal and open the way towards 0.79. In case of return above 0.8050, we will be neutral between this level and 0.81. The breakout of 0.81 will give a buy signal.
