Forex: EUR/GBP extends advance to 0.8730

The Euro is trading at March highs against the Sterling following the bullish Draghi's speech on growth expectations. The EUR/GBP has advanced around 100 pips in the American session from 0.8635 to break above the 0.8700 level and reach 0.8730, fresh highs since February 25th.

Currently the EUR/GBP is trading at 0.8725, 1.05% above opening price. MACD, CCI and Momentum are bullish while the Stochastic is bearish in the 1-hour chart. Next resistances are at 0.8730, 0.8760 and 0.8800. ON the downside, supports are at 0.8710, 0.8670 and 0.8650.