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EUR/GBP stalls ahead of 0.8600

FXstreet.com (Córdoba) - The shared currency advanced versus the pound on Thursday, mainly propelled by EUR/USD gains instead of euro's self strength.

Following a 50-pip rally however, EUR/GBP found resistance when hitting a 6-week high of 0.8597, just ahead of the 0.8600 psychological level and pulled back. At time of writing, the cross is trading at the 0.8575/80 area, still up 0.3% on the day.

In terms of technical levels, if EUR/GBP manages to break above 0.8600, next resistances could be found at 0.8635 (Apr 17 high) and 0.8680. On the downside, supports are seen at 0.8530 (100-day SMA) and 0.8500 (psychological level).

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