The outlook for the European cross remains in the bullish side above 0.7663, according to Senior Technical Analyst at Commerzbank Axel Rudolph. Key Quotes “EUR/GBP dropped to .7654 before sharply reversing its trend and rallying all the way up close to the .7896 February 11 high”. “Key resistance is the recent high of .7927 and the .7937 200 week moving average”. “If bettered, the .8000 region will be back in play. Immediate upside pressure will be maintained while the four month support line at .7663 underpins”. For more information, read our latest forex news.