EURGBP turns upwards from 0.8865 support which is holding since May. The last turn from this level was in September and MACD turned upside at the same time from the -0.0033 level. The same thing is happening again, price reversed from 0.8865 and MACD reversed form -0.0033. But will the result be the same? The biggest obstacle against this move is the upper band of the bearish channel which is also supported with 89 day moving average. If the price breaks this resistance level (0.9053) odd of 0.9292 will be a lot higher.
As long as 0.8865 holds, down moves will create buying opportunities. But, if this support breaks, the downside move may continue at the 0.87 level.
