Technicals

Add as a preferred source on Google

FxWirePro: EUR/GBP Daily Outlook

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 …

1 min read
FxWirePro: EUR/GBP Daily Outlook
Image from the original EconoTimes article

Read the original article

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. 
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560