Technicals

Add as a preferred source on Google

FxWirePro: EUR/GBP Near-Term Outlook

EUR/GBP chart - Trading View EUR/GBP is extending trade in a 'Rising Channel' pattern, bias is bullish. The pair is struggling at cloud top at 0.9078, break out of cloud to see further gains. Momentum studies are bullish…

1 min read
FxWirePro: EUR/GBP Near-Term Outlook
Image from the original EconoTimes article

Read the original article

EUR/GBP chart - Trading View 

EUR/GBP is extending trade in a 'Rising Channel' pattern, bias is bullish.

The pair is struggling at cloud top at 0.9078, break out of cloud to see further gains.

Momentum studies are bullish. Stochs and RSI are sharply higher. RSI is above 60 with scope for further upside.

Positive DMI dominance and rising ADX support further gains in the pair. Volatility is rising as evidenced by widening Bollinger bands.

Analysis of GMMA indicator shows major and minor trend are bullish. Breakout above cloud will see test of channel top at 0.9175.

21-EMA is immediate support at 0.8967. Bullish invalidation only below 200-DMA. 

Major Support - 0.8819 (110-EMA)

Major Resistance - 0.9175 (Channel Top)
 

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