There is a major support level at 0.86375 which the price of $EURGBP has maintained in the last few years. Today, a dip in price has resulted, thereby GBP has gained about 350pips in 2019. After this dip, a trace of reversal has begun. In the past one and half years, price of $EURGBP has been between 350pips indicating low volatility.
The RSI has indicated an oversold position giving rise to a reversal in the price of $EURGBP. Despite today’s drop in price, there are signals that price will touch the resistance level at 0.90496 in next few weeks. Price of $EURGBP is currently around the support level again. Just recently, price touched this support level at 0.86324 in the last trading week in January. Ichimoku shows the price is in a downward direction. If price of $EURGBP touches the middle line of the Bollinger bands, price might continue the upward movement.