EUR/GBP - EUR/GBP Slipped More than 5% in November - 12/08/2016 (GMT)

The EUR/GBP pair plummeted more than 5% over last month and had a pullback on the 0.8300 strong psychological level which overlaps with the 100-monthly SMA. Currently, the pair is in the process to regain some losses and is developing near the 0.8500 price level which is slightly above the 100-SMA on the short-term timeframe. If there is a penetration of the 0.8580 resistance level to the upside the pair will expose towards the 0.8700 significant barrier which coincides with the 200-SMA. On the other hand, the price may retest the 0.8410 support level. The MACD oscillator is following a positive path and is moving above both, its zero and trigger lines.