The Euro versus the Pound continues rallying

On the weekly chart of the EUR/GBP we can see that the pair is getting closer to the 0.9200 level and it may try to visit the high at the 0.9236 level, which is the level reached on October 2016. Even though the Pound has gained some ground versus the Dollar, it has dropped versus the Euro due to the difficulties that the British officials are having during the implementation of the Brexit agreement. If the EUR/GBP continues rising, then the zone between the 0.9200 and the 0.9236 levels could become resistance. To the downside, the 0.9000 level could act as support, followed by the 0.8800 level, which has acted as resistance in the past and may change its role to support. But a much better support level could be the 0.8600 level, where we can see the 55 day exponential moving average.