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Refer EUR/GBP chart on Trading View
- EUR/GBP is trading 0.180% higher on the day at 0.9021 at the time of writing.
- The demand for the single currency remains firm as focus remains on the Jackson Hole Symposium.
- Price action is above daily cloud and upward sloping major moving averages support upside bias.
- The formation of a "Golden Cross" formation on the daily charts keeps scope for upside.
- The pair is holding above 21-EMA support and only break below could see minor weakness.
- Breakout at 0.9030 (Aug 9th high and strong trendline resistance) to see 0.91 levels.
Support levels - 0.8989 (5-DMA), 0.8949 (21-EMA), 0.8887 (50-DMA)
Resistance levels - 0.9030 (Aug 9th high), 0.9040 (Wedge top), 0.91 (trendline)
FxWirePro Currency Strength Index: FxWirePro's Hourly EUR Spot Index was at 107.603 (Bullish), while Hourly GBP Spot Index was at 10.0771 (Neutral) at 0945 GMT. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.
