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Forex: EUR/GBP hovering over 0.8650

The pair remains under pressure on Thursday, retreating to the 0.8650 region after another failed attempt of breach 0.8670

The cross lost over a big figure after the release of the FOMC minutes on Wednesday, as market participants were rushing to scape from the sterling and the single currency. Today’s firmer tone in GBP and increased permeability in the EUR are weighting on the pair.

As of writing, EUR/GBP is losing 0.76% at 0.8653 facing the next support at 0.8629 (low Feb.21) ahead of 0.8625 (MA10d) and then 0.8597 (MA21d).
On the upside, a surpass of 0.8733 (Upper Bollinger) would open the door to 0.8764 (high Feb.20) and finally 0.8831 (high Oct.28).

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