FxWirePro: EUR/GBP capped at 21-EMA, good to go long on break above

• EUR/GBP rejected at 21-EMA at 0.8765, edges lower to currently trade at 0.8759.
   
• The pair has broken above 5-DMA and re-entered daily cloud raising scope for further upside.
   
• The major is extending trade in a 'Symmetric Triangle' pattern and breakout will decide further directional bias.
   
• Technical indicators are neutral and are turning slightly bullish. RSI has shown a turn higher. Stochs are on verge of retrace from near oversold levels. 
   
• Breakout above 21-EMA will see further upside, while on the flipside, we see immediate support at 61.8% Fib at 0.8682. 
   
• Violation at 61.8% Fib could see test of Triangle base at 0.8655. On the upside, break above 21-EMA could see re-test of 0.8835.

Support levels - 0.8748 (5-DMA), 0.87, 0.8682 (61.8% Fib), 0.8655 (Triangle base), 0.8620 (Apr 17 low)

Resistance levels -  0.8765 (21-EMA), 0.88, 0.8835 (Triangle top)

FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 21.1047 (Neutral), while Hourly GBP Spot Index was at -57.9218 (Neutral) at 1026 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex. 

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