Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.75% higher on the day at 0.8599 at around 16:25 GMT
- Three White Soldiers pattern on the daily charts raises scope for further upside in the pair
- Price action has broken past cloud top,
- Momentum is bullish, stochs and RSI are sharply higher, RSI is well above the 50 mark
- GMMA indicator shows minor trend is bullish, while major trend is turning bullish
Support levels:
S1: 0.8568 (110-week EMA)
S2: 0.8497 (5-DMA)
Resistance levels:
R1: 0.8632 (Upper BB)
R2: 0.8699 (200-week MA)
Summary: EUR/GBP was trading with a bullish bias. Close above the daily cloud will boost further upside in the pair.
