EUR/GBP rebounds after falling to 0.8350

EUR/GBP  printed a fresh daily low slightly above 0.8350 but rebounded and continues to trade near the 0.8400 area.

The pound rose momentarily in the market, with GBP/USD climbing to 1.3340, only to pullback below 1.3400 a few minutes later. EUR/GBP bottomed at 0.8351 but now it is trading at 0.8380, around the same level it closed on Friday.

Price action remains limited in the forex market, on a low volume session affected by the US holiday.

EUR/GBP unable to rally above 0.8400

The pair continues to trade at a long-term resistance area located around 0.8380 and 0.8400, a consolidation on top, on a wider perspective could open doors for more gains. Last week and today , EUR/GBP traded on top but it was unable to hold and pulled back.

To the downside, relevant support levels could be seen at 0.8325 (June 29 high) and then 0.8205/10 (June 29 low).