Today’s most important event will be the non-farm payrolls data from the US. This data should cause higher volatility at the market, especially at EURUSD. This volatility will also influent at EURGBP, which should return to upward movement.
At the end of April downward movement at EURGBP stopped at Fibonnacci 76.6% and there rebound occurred. On Wednesday upward movement reached 0.7920 level and the attack of demand right there was stopped. We do not see here supply’s strength so upward movement should be continue. Right now the most important resistance is 0.7920. After it successful break above the price will move fast to 0.8000. That level wasn’t very important this year, but it was important in 2014. After EURGBP crashes through this resistance next target is located at 0.8100.
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