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EURGBP technical analysis

EURGBP Tech analysis by Simon Kazinsky on 21:50 August 23, 2015 EST

EURGBP is for first time since late 2015 threatening the Moving Average that has capped all the pair's attempts to stage a sustainable recovery since summer 2013 when it was trading above 0.80.

The Euro is quite strong across the board and has been the strongest currency last week. The pound is not weak either and has been holding well against other currencies like the Japanese Yen and the dollar.

For the time being the pair is still in bearish configuration and short term weakness could be utilised to add to shorts. Crossing the above mentioned Moving Average may signal the long term trend is over.