The cross surged to one week high at 0.8853 on Wednesday as pound came under increased pressure on remarks from EU’s Brexit negotiator Barnier, who called on London to speed up divorce negotiations if it wants to reach a deal this year.
The cross showed renewed strength after upside attempts on Tuesday stalled at 0.8843 and subsequent reversal resulted in daily close in red, which temporarily sidelined hopes of fresh recovery.
Barnier’s remarks were trigger for fresh acceleration which could extend further as pound’s sentiment turns negative.
Techs on daily chart are improving after rally broke above 10/20/30 SMA’s and brief probes above top of daily Ichimoku cloud, as north-heading 14-d momentum moved into positive territory.
Daily 100SMA / cloud top limit gains for now, but fresh bullish momentum is building and could accelerate recovery towards pivotal barriers at 0.8862 (Fibo 61.8% of 0.8919/0.8771) and 0.8880 (200SMA) break of which would generate next strong bullish signals.
Supports at 0.8838/33 (converged 10/20SMA) and 0.8828 (broken Fibo 38.2% of 0.8919/0.8771) are expected to hold and keep in play renewed bullish bias.

Res: 0.8862; 0.8880; 0.8919; 0.8927
Sup: 0.8828; 0.8806; 0.8771; 0.8732