FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research at Commerzbank, expects some recovery in EUR/GBP in the near-term with next resistance seen at the 0.8529 mark.

“EUR/GBP has severed its near term downtrend and is expected to correct higher near-term.” 

“Initial resistance is the 20-day ma at 0.8529 and the 55-day ma at 0.8561 and the market will remain on the defensive while capped here.”