EUR/GBP Technical Analysis: 0.8585 trend-line resistance holds the gate for 0.8630/40

• The EUR/GBP pair is presently trading around 0.8580 ahead of European markets open on Friday.
• The pair is near to a weeklong downward sloping trend-line connecting highs of February 22 and 25, at 0.8585, that holds the gate for its rise in a direction to 0.8630.
• However, another descending resistance-line, which joins February 14 and 22 high around 0.8640, could challenge the buyers afterward.
• In a case when prices rally past-0.8640, 0.8670 and 0.8700 could mark their appearance on the chart.
• Meanwhile, 0.8565 and an ascending support-line, at 0.8560, seem adjacent supports for the pair, a break of which can drag the pair to 0.8645 and 0.8630.
• It should also be noted that the pair’s declines under 0.8630 may have tough time conquering 61.8% Fibonacci expansion of its moves since Feb. 26, near 0.8500.

EUR/GBP hourly chart