EURGBP jumped slightly with no follow-through buying. It hits a high of 0.84472 and is currently trading around 0.84391.
Markets eye UK jobs data tomorrow for further direction.
Technicals-
Intraday trend is neutral.
The pair is trading above 34- and 55 EMA in the 4- hour chart.
The near-term resistance is around 0.84536 (23.6% fib), a breach above targets of 0.84864. Any close above 0.84865 confirms that the intra-day bearish trend got completed, a jump to 0.8540 is possible. The immediate support is at 0.8400, any violation below will drag the pair to 0.83830 (Jul 17th, 2024). Any close below 0.83830 confirms the resumption of a major downtrend, a dip to 0.8330/$0.82550 is possible.
Indicator (4-hour chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Neutral
It is good to stay away.
