Forex: EUR/GBP regains the area around 0.8110

FXstreet.com (Barcelona) - After bottoming in the proximity of 0.8085, the pair has managed to climb back above the key support at 0.8100, helped by the weakness surrounding the sterling and the reluctance of the shared currency to ease further.

I.Spivak, Currency Strategist at DailyFX, argues "prices moved lower as expected after putting in a Bearish Engulfing candlestick patter below rising channel resistance, taking out support at 0.8154 and exposing un upward-sloping trend line barrier at 0.8098. A further push below that targets the channel bottom at 0.8029. The 0.8154 mark has been recast as near term resistance.

The pair is now losing 0.03% at 0.8108 with the next support at 0.8090 (low Dec.13) followed by 0.8063 (low Dec.12) and 0.8061 (61.8% of 0.7961-0.8225).
On the upside, a break above 0.8157 (MA10d) would expose 0.8200 (hourly high Dec.28) and then 0.8219 (Upper Bollinger).