EUR/GBP chart - Trading View
Technical Analysis:
EUR/GBP was trading 0.21% higher on the day at 0.8628 at around 09:00 GMT, scope for further upside.
Price action has ignored an inverted hammer on the previous session and is extending gains above 21-EMA.
Technical indicators have turned bullish on the intraday charts with scope for further upside.
The pair trades above 200H MA, 5-DMA has turned and Stochs and RSI show bullish momentum and volatility is rising.
Further, bullish divergence on Stochs and RSI on the daily charts adds to the upside bias.
Data Released:
The preliminary manufacturing activity report from IHS/Markit research showed German manufacturing sector outperformed in March. The index hit highest since April 1996.
German Preliminary Manufacturing PMI rises to 66.6 in March vs. 60.8 expected. Services PMI in Germany expands to 50.8 in Mar vs. 46.2 expected.
The IHS Markit Flash Germany Composite Output Index jumped to 37-month highs of 56.8 in March vs. 51.6 expected and February’s 51.1.
On the other side, the pound is under pressure as UK CPI missed estimates to print at 0.4% (forecast 0.8% and prior 0.7%).
Support and Resistance Levels:
Support levels - 0.8613 (21-EMA), 0.8593 (5-DMA), 0.8584 (200H MA)
Resistance levels - 0.8676 (Upper BB), 0.8697 (23.6% Fib), 0.8714 (55-EMA)
Summary: EUR/GBP is extending upside in the week after a Doji on the previous week's candle. Break above 21-EMA has reinforced upside for the pair. Bulls in the pair eye 23.6% Fib at 0.8697. Failure to close above 21-EMA negates upside bias.


FxWirePro: USD/JPY on nervous hold around 160.00
FxWirePro: EUR/NZD tight ranges prevail as market waits for fresh catalyst
FxWirePro: GBP/AUD regains upwards momentum but unable to hold above 38.2% fib
NZDJPY Bulls Reload: Why 93.50 Is the Line in the Sand for a Run to 97
FxWirePro: EUR/AUD holds narrow range, focus on near-term support
GBP/JPY Bulls Reload at 214: Triple EMA Support Eyes 216–217 Breakout
FxWirePro USD/CAD steadies around 1.3910,retains bid tone
GBPJPY Claims 215: Sterling Bulls Forge Ahead with Locked-In Momentum
BTC Cracks Below $65K: Sell the Rip as Iran Tensions and ETF Bleeding Fuel Bears
FxWirePro- Major Crypto levels and bias summary
FxWirePro: AUD/USD edges lower as risk appetite sours on Geopolitical woe
AUDJPY Reclaims 114: Bears Growl in the Short Term, But Bulls Hold the Line
FxWirePro: USD/CAD extends gains as U.S. dollar gains momentum after strong U.S. NFP data
FxWirePro- Major Pair levels and bias summary
NFP Shockwave Wipes Out EURUSD Gains as King Dollar Roars Back; Bears Target 1.1525 



