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Forex pairs in this Article » EUR/GBP (New York) - The EUR/GBP foreign exchange rate sailed higher Monday during US trading, unable to retest its earlier overnight highs.

EUR/GBP bullish bias remains valid

“The EUR/GBP has retested the main descending resistance around 0.8600, which the key level towards further upside. The overall bullish bias remains valid; however, we will wait for a break above the aforementioned resistance to confirm a move higher this week. 0.8470-area is the key support and major downside barrier” notes the Technical Analyst Team.

EUR/GBP still below session highs

Technically speaking, the pair is operating at 0.8580, up a solid +0.21% in these moments Monday. The EUR/GBP will look towards resistances at 0.8598 (session high), then 0.8637, and finally 0.8656. Alternatively, an extension lower will initiate supports at 0.8510, ahead of 0.8492, and 0.8464, calculates the Danske Research Team.
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