EUR/GBP rises for the second day in a row

FXStreet (Córdoba) - The EUR/GBP continues to recover ground on Friday after falling yesterday to 0.7887, the lowest price since September 2012. Currently trades at 0.7915, slightly higher for the day. Earlier peaked at 0.7935, hitting a 3-day high but then pulled back.

Despite recovery EUR/GBP remains bearish

Despite moving away from the 0.7900 area the main trend still points to the downside. To the upside a key resistance could be located around 0.8000, where a daily downtrend line stands.

To the downside a level to consider lies at 0.7735/40 where 2012 lows lie. Below the next long term support could be 0.7680/85 (October 2008 lows).