EURGBP is trying to turn the bearish trend around which was started in December. 89-day regression’s slope turned up and broke its moving average and the price is trying to hold above 0.8480 support. If this technical look lasts and 0.8480 support holds, the chart may turn in favor of the Euro again. In the short-term, 89-day MLR, 0.8567 can support the exchange rate to the +2 standard deviation. For the medium-term, 0.8875 will be a good target for upside moves.
For the EURGBP bears, breaking of the 0.8480 will be essential. Below that level, 0.8275 can be tested. 0.8275 is powerful long-term support which is holding since 2016.
