EUR/GBP: Towards the all-time high at 0.98029 – Rabobank

FXStreet reports that analysts at Rabobank apprise that the price action in EUR/GBP fits into a sideways trend despite the often sharp moves witnessed over the past few years.

“The upside has been limited by the resistance area at 0.94/0.93 and the downside has been constrained by the support area around 0.83.”

“The monthly chart implies that the bias is skewed in favour of a break higher towards the all-time high at 0.98029 as EUR/GBP has been trading over the past few months above the pivot around 0.83.”