On 13 November, we talked about a reversal chance for the price in our “Will History Repeat Itself for EURGBP?” study. With the help of Brexit pessimism, EURGBP turned to the upside from the near -0.0033 MACD level and 0.8865 actual price level. The price is currently testing the 0.9148-0.9176 resistance zone.
If the price is able to close above this level, the latest top-level 0.9292 can be targeted in a couple of days. This move may be in line with the September reverse, in MACD.
Below this resistance zone, 0.9070 can be followed as support in the shorter-term. In the next week, the decision from BOE and possible Brexit news may increase the volatility of the price.
