EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
EUR/GBP is extending winning streak for the 6th straight session, bias strongly bullish.
The pair was trading 0.63% higher on the day at 0.9093 at around 12:10 GMT, slightly lower from session highs at 0.9132.
Bank of England's (BoE) new governor Andrew Bailey assured further action from the central bank if necessary.
The UK government’s approach to coronavirus pandemic kept the GBP on the defensive, while the Euro benefited from the Fed’s emergency decision to slash rates to zero.
EUR/GBP has broken above 200-DMA and 200W SMA and has tested 78.6% Fib (0.9099).
ADX and MACD support gains. Momentum strongly bullish, but overbought oscillators could see minor pullbacks.
Dips could be used to go long. Next bull target lies at 88.6% Fib at 0.9204. Retrace below 200H MA to see near-term weakness.
