EUR/GBP has broken out of its recent consolidation range, confirming renewed bullish momentum. With technical indicators supportive, the pair now targets higher levels, provided key support at 0.8585 holds, Société Générale's FX analysts note.
EUR/GBP eyes April highs after breakout
"EUR/GBP broke above the upper boundary of its recent base, signaling a resurgence in upward momentum. This is further supported by the daily MACD, which remains anchored in positive territory."
"If a short-term pullback develops, last month's peak at 0.8585/0.8575 serves as a key support level. The next potential objectives could be located at the April high at 0.8725/0.8735 and projections near 0.8780."
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