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EUR/GBP bounce capped by 0.8580

FXstreet.com (Córdoba) - After a limited setback, EUR/GBP managed to resume the upside and rose back to near the top of its recent range as the sterling weakened on the back of the BoE minutes.

EUR/GBP bounced from a low of 0.8548 scored earlier during the European session and reached a daily high of 0.8578 before losing momentum and pulling back slightly. At time of writing, EUR/GBP is trading at the 0.8575 area, up 0.2% on the day, and not far from its 3-week high of 0.8583 hit on Tuesday.

EUR/GBP technical levels

In terms of technical levels, immediate resistances are seen at 0.8583 (Jun 18 high) and 0.8600 (psychological level), while on the downside, supports could be faced at the 0.8545 area (daily lows/100-day SMA) followed by 0.8530 (20-day SMA).

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