The EURGBP sellers held resistance against the 100 day MA a few weeks ago and again last week. Today, the price moved up to retest that MA once again at 0.8584 and sellers once again stalled the rally.
As a result of the history, it would now take a move above that level and also a swing area between 0.8583 to 0.8587 to increase the bullish bias. Absent that, and the sellers are still in play with stops on a break above.
This article was originally published by Forexlive.com. Read the original article here.