FxWirePro: EUR/GBP Daily Outlook

EUR/GBP chart - Trading View 

Technical Analysis: Bias Bullish

GMMA Indicator:

- Major Trend: Turning Bullish

- Minor Trend: Strongly Bullish

Ichimoku Analysis:

- Price action is attempting breakout of daily cloud

- Bullish Tenkan Sen crossover over Kijun Sen 

Oscillators:

- RSI is above 60 with room to run further

- Stochs are in overbought zone, but no major signs of reversal seen, momentum bullish

Bollinger Bands:

- Bollinger Bands are widening on the daily charts

- Price action is above major moving averages and rising volatility could take the pair higher

High/Low: 

- Previous Week High/Low - 0.8939/ 0.8706

- Previous Session High/Low - 0.8939/ 0.8826

Major Support Levels: 0.8879 (5-DMA), 0.8804 (21-EMA), 0.8770 (55-EMA)

Major Resistance Levels:  0.8959 (Cloud top), 0.8987 (38.2% Fib), 0.9085 (50% Fib)

Summary: EUR/GBP has ended consolidation along 200-DMA and has entered into a bull phase. Momentum with the bulls. Price action is hovering around cloud top and breakout above will see jump till 50% Fib retracement at 0.9085.