Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.02% lower on the day at 0.8646 at around 09:30 GMT.
- The pair has formed a Doji at highs denting further upside in the pair
- Momentum is strongly bullish, Stochs and RSI are sharply higher
- Volatility is high and rising as evidenced by wide Bollinger bands
- GMMA indicator shows major trend is neutral, while minor trend is bullish
Support levels:
S1: 0.8580 (5-DMA)
S2: 0.8569 (110-week EMA)
Resistance levels:
R1: 0.8699 (200-week MA)
R2: 0.8721 (Yearly high)
Summary: EUR/GBP trades with a bullish bias, but overbought oscillators and Doji at highs dents upside. Major trend is bullish, pullbacks are likely to be shallow.
