EURGBP is testing the 0.8865 support, again, for the sixth time. Since June last year, EURGBP is moving in a flat zone between 0.8865 and roughly 0.9181. Now, despite the dollar gaining some ground against the euro, the pound still holding its ground. But can EURGBP break the five times tested 0.8865 to the downside? We will probably see in the next few days. If it does, 0.87 may become the next important support level in the short-term.
Unless 0.8865 is broken, the 0.8865-0.9180 flat channel will continue for some time.