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Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
- EUR/GBP was trading 0.38% higher on the day at 0.8434 at around 10:45 GMT
- The pair is extending bullish streak for the sixth consecutive session
- Price action trades shy of 200-DMA and break above eyes channel top at 0.8490
- Momentum is bullish, Stochs and RSI are sharply higher. Volatility is high and rising
- GMMA indicator shows minor trend is bullish while major trend is neutral
Support levels:
S1: 0.8389 (110-EMA)
S2: 0.8358 (55-EMA)
Resistance levels:
R1: 0.8446 (200-DMA)
R2: 0.8490 (Channel top)
Summary: EUR/GBP trades shy of 200-DMA resistance. Outlook for the pair is bullish, break above 200-DMA will see test of channel top at 0.8490.
