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Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.60% higher on the day at 0.8458 at around 13:15 GMT.
- Price action is spiking higher for the second consecutive session
- The pair has broken above 110-EMA, scope for further upside
- Momentum is strongly bullish, RSI is well above the 60 mark
Support levels - 0.8451 (110-EMA), 0.8404 (55-EMA)
Resistance levels - 0.8477 (Daily Cloud), 0.8511 (200-DMA)
Summary: EUR/GBP poised for further gains. Scope for test of daily cloud at 0.8477. Break above cloud will fuel further upside.
