Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.58% higher on the day at 0.8532 at around 11:45 GMT
- The pair has brushed aside previous session's spinning top formation to resume upside
- Price action is hovering around 50-DMA and cloud top resistance, break above will fuel further gains
- Momentum is with the bulls, Stochs show bullish rollover from oversold levels and RSI is above the 50 mark
- MACD is on verge of bullish crossover on signal line, GMMA has turned bullish on the intraday charts
Support levels - 0.8509 (55-EMA), 0.8468 (200H MA), 0.8439 (200-DMA)
Resistance levels - 0.8540 (20-DMA), 0.8580 (110-week EMA), 0.8650 (Upper W BB)
Summary: EUR/GBP pivotal at 50-DMA and cloud top resistance. Watch out for decisive break above for upside continuation. Bullish invalidation only below 200-DMA.
