EUR/GBP: bulls remain in charge and no correction of bullish gap in sight

EUR/GBP is consolidating the bid after a bullish gap opened the week off on the back of PM May's announcements in respect to article 50. 

EUR/GBP was well bid into last week's closing session that saw the cross rally from the depths of the 0.86 handle through the mid-way point of the handle on rumours re Brexit timings while over the weekend, May, announced that article 50 will be triggered end of March, but indeed explained that the exit will be "quite complex" with immigration and U.K. sovereignty at the top of the negotiations. 

EUR/GBP levels

EUR/GBP has been well supported in the September commencing ascending channel by the 10 dma while the 20 crosses up through the 50. 0.8724 is 15th August high ahead of 0.881416th Feb highs. To the downside, 0.8640 and 0.8560 are key support levels after a break of the 10 dma at 0.8648. 0.8660 is the nearer term support to close the bullish gap in a minor correction.