TechnoMeter

EUR/GBP continues to make cautious progress to the upside in the aftermath of a bullish candlestick pattern. This followed a push above a descending resistance line from earlier in January which was since resulted in gains of about 2.11% at the time of this writing.

In the meantime, EUR/GBP finds itself in a horizontal resistance range between 0.88384 and 0.88108. This area consists of the lows achieved back in November 2018. This was then retested in the middle of January. A close above this area may open the door to climbing to 0.89225 next, which is the lower boundary of the next area of resistance.

more...