Technicals

Add as a preferred source on Google

FxWirePro: EUR/GBP capped at 110-EMA, break above to fuel further gains

Chart - Courtesy Trading View EUR/GBP was trading 0.55% higher on the day at 0.8408 at around 10:45 GMT. The pair snapped 2-days of downside and edged higher as the single currency gained traction amid optimism in the ge…

1 min read
FxWirePro: EUR/GBP capped at 110-EMA, break above to fuel further gains
Image from the original EconoTimes article

Read the original article

Chart - Courtesy Trading View 

EUR/GBP was trading 0.55% higher on the day at 0.8408 at around 10:45 GMT.

The pair snapped 2-days of downside and edged higher as the single currency gained traction amid optimism in the geopolitical landscape.

Hopes remain of a diplomatic end to the war in light of another round of talks between Russian and Ukrainian officials later on Monday.

Price action is inside the daily cloud. Chikou span is biased higher, supporting upside in the pair.

Momentum is bullish, Stochs and RSI are sharply higher. Volatility is high and rising. MACD supports upside in the pair.

Support levels - 0.8372 (55-EMA), 0.8351 (21-EMA), 0.8341 (20-DMA)

Resistance levels - 0.8414 (110-EMA), 0.8441 (Cloud top), 0.8477 (200-DMA)

Summary: EUR/GBP finds stiff resistance at 110-EMA. Technical bias is bullish. However, break above required for upside continuation. 
 

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