EUR/GBP reverses and climbs to 6-day highs above 0.8650

EUR/GBP has risen more than 50 pips from the lows and reversed sharply the daily trend. The pair bottomed earlier at 0.8617 and then bounced to the upside. Recently it printed a fresh 6-day high at 0.8678. 

It remains near daily highs supported by a sharp decline of the pound across the board ahead of the trigger of the Article 50 (Brexit). EUR/USD is moving sideways while GBP/USD is at daily lows moving toward 1.2500.

Technical levels 

A consolidation of EUR/GBP around current levels could strengthen the upside bias as price is holding on top of a downtrend line, originated back in March 14. 

To the upside, resistance levels might be located at 0.8705 (Mar 20 high), 0.8725 (Mar 21 high) and 0.8760 (Mar 16 high). On the flip side, support could be seen at 0.8655/60 (European session high), 0.8615 (daily low) and 0.8600 (psychological).