EUR/GBP: Natixis expects a larger rally of the pair in the short term

A wider rally is still possible in the coming days towards 0.8630-0.8646 on the EUR/GBP according to Natixis.

"The break of the 0.8544-0.8560 range (Bollinger's weekly moving average) initiates a bullish impulse, especially as the daily volatility is tending to increase and daily indicators have turned bullish. In this context, a wider rally is still possible in the coming days towards 0.8630-0.8646 (bearish trend line). The break of this area would pave the way for 0.8674 (Fibonacci extension) and a threshold at 0.8720 (38.2% Fibonacci retracement of the 0.9403-0.8303 decrease from Oct. 16 to Dec. 16).

The support levels are at 0.8544-0.8560, 0.85, 0.8453/71, 0.8380/0.84 and 0.8350."