EURGBP Smashes 0.8800 on Euro Beast Mode: Bulls Reload at 0.8790 – Next Stop 0.8900 Moonshot
EURGBP gained above 0.8800 on a strong Euro. As long as support 0.8750 holds, intraday bias is positive. Currently trading at 0.88069, it reached an intraday high of 0.88064. Technical Analysis The pair is currently trad…
EURGBP gained above 0.8800 on a strong Euro. As long as support 0.8750 holds, intraday bias is positive. Currently trading at 0.88069, it reached an intraday high of 0.88064.
Technical Analysis
The pair is currently trading above 55 and 200- EMA and 365-EMA on the 4-hour chart.
Bearish Trend Confirmation: Any break below 0.8790 confirms an intraday bearish trend. A drop to 0.8750/0.8700/0.8660/0.8630/0.8600/0.8560/0.8520/0.8480 is likely.
Near-Term Resistance: The near-term resistance is around 0.8825. Any violation above will take the pair to 0.8850/0.8900.
Indicator Analysis (4-hour chart)
CCI (50): Bullish
Average Directional Movement Index: Neutral
Trading Recommendation
It is good to buy on dips around 0.8790 with SL around 0.8750 for a TP of 0.8850/0.8900.
