FxWirePro: EUR/GBP Trade Idea

EUR/GBP chart on Trading View used for analysis

FxWirePro Currency Strength Index for EUR/GBP: Bias Bullish
FxWirePro's Hourly EUR Spot Index was at 101.311 (Bullish)
FxWirePro's Hourly GBP Spot Index was at -100.411 (Bearish)

Technical Analysis: Bias Bullish
- Price action has broken above 100-DMA
- Momentum studies bullish, RSI strong at 60 with room to run further
- -ve DMI dominance, MACD supports upside, volatility is rising
- Price action has edged above major moving averages

Support levels - 0.8879 (5-DMA), 0.8868 (converged 55 and 110 EMAs)
Resistance levels - 0.8915 (Upper BB), 0.8947 (cloud base), 0.8955 (61.8% Fib)

Recommendation: Good to go long on dips, SL: 0.8875, TP: 0.8915/ 0.8955

For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.