Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- EUR/GBP was trading 0.58% higher on the day at 0.8437 at around 11:20 GMT
- The pair is extending previous session's spike, closed 0.70% higher in the previous session
- Price action has edged above 110-EMA and daily cloud top resistance
- Momentum has turned bullish, Stochs and RSI are biased higher, RSI is above the 50 mark
- MACD confirms bullish crossover on signal line, ADX supports upside
Support levels - 0.8418 (Cloud top), 0.8407 (110-EMA), 0.8372 (55-EMA)
Resistance levels - 0.8460 (Upper BB), 0.8466 (200-DMA), 0.85 (Channel top)
Summary: EUR/GBP technical bias turns bullish. Scope for test of 200-DMA at 0.8466. Break above will see test of channel top at 0.85.
