FXStreet reports that economists at Société Générale suggest that an erosion of the 0.86 level would open EUR/GBP the path towards 0.8675 and may beyond.

“EUR/GBP has established itself above short-term Moving Averages and daily MACD has entered positive territory denoting potential upside.”

“A break above 0.8600 can result in a rebound towards 0.8675 and even towards graphical levels of 0.8860.”

“Consolidation above 0.8460/0.8450 will be crucial for further up move.”