EURGBP is moving close to the lower line of the long-term flat channel. Momentum was in favor of GBP for some time but the outlook is changing. The UK delay the re-openings to July but if the delta variant causes daily cases to increase even more, Covid-19 restrictions may continue for a while
The 100-day moving average will be the key resistance. If EURGBP can break it, 0.8875 can be targeted in the short to medium term. For the downward moves, 0.8480 will be the key support ahead of the long-term line, 0.83.
