EUR/GBP: a minor recovery in thin trade, awaiting EU politics 2017

Currently, EUR/GBP is trading at 0.8518, up 0.10% on the day, having posted a daily high at 0.8543 and low at 0.8500.

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EUR/GBP is up to test the vicinity of the 0.8520 resistance and holding above the 4hr 200 sma at 0.8486. There are mixed outlooks for both the euro and the pound, although there seems to be more downside potential currently for the euro given the strength of the greenback and the pound that has already shed a large percentage drop post the Brexit referendum and subsequent economic concerns for the UK. Nevertheless, the cross is robust during these holiday times and is making a very minor recovery of the early November sell-off from 0.9050.

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EUR/GBP levels

With spot trading at 0.8518, we can see next resistance ahead at 0.8520 (Hourly 20 EMA), 0.8529 (Daily Classic R1), 0.8530 (Yesterday's High), 0.8543 (Daily High) and 0.8546 (Monthly High). Support below can be found at 0.8514 (Weekly High), 0.8512 (Daily Open), 0.8511 (Daily Classic PP), 0.8500 (Daily Low) and 0.8494 (Hourly 100 SMA).