EUR/GBP Technical Analysis: Trapped in a barbwire pattern

EUR/GBP daily

• EUR/GBP is trading in a bear trend below its main simple moving averages (SMAs).
• EUR/GBP is rejecting both the 0.8650 level and the 50 SMA.

EUR/GBP 4-hour chart

• EUR/GBP is trading above the main SMAs suggesting potential bullish momentum in the medium-term.

EUR/GBP 30-minute chart

• EUR/GBP is evolving in a tight range with little direction this Thursday. 
• The overall picture seem to favor the buyers. They need to overcome 0.8650 resistance to travel to 0.8690 level.
• To the downside, support is at 0.8610. The next supports are seen at 0.8590, 0.8560 and 0.8520 level. 

Additional key levels