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Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.11% higher on the day at 0.8483 at around 13:10 GMT
- The pair is extending bounce off 200-DMA support, poised for upside resumption
- GMMA indicator shows major trend is bullish and minor trend is turning bullish
- RSI is above the 50 mark and biased higher, Stochs are turning bullish
- Price action is above cloud and Chikou span is biased higher
Support levels - 0.8470 (5-DMA), 0.8456 (21-EMA), 0.8441 (200-DMA)
Resistance levels - 0.8489 (55-week EMA), 0.85, 0.8587 (110-week EMA)
Summary: EUR/GBP bias remains bullish as long as pair holds above 200-DMA. Scope for upside resumption and retest of yearly high above 0.86 mark.
