EUR/GBP Technical Analysis 16.04.2024

EURGBP is currently priced at 0.85390, showing a 0.03% increase. The market is still within a horizontal channel. The resistance level stands at 0.8589, and if breached, an upward movement towards 0.86 could occur. The middle part of the horizontal band seems to have broken downwards. Therefore, the lower level around 0.85 might be tested. If 0.85 acts as support, there could be a move towards the upper band after retesting the middle band. On the downside, if 0.85 is broken, 0.8455 appears to be the first support level.