EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP trades 0.24% higher on the day, tests 0.86 handle
- Price action has edged above 200H MA and hourly cloud
- 5-DMA is turning and MACD shows a bullish crossover on signal line
- Stochs and RSI are on verge of bullish rollover from oversold territory
- Chikou span is also biased higher and GMMA shows bullish shift on intraday charts
Support levels - 0.8573 (converged 200H MA and 5-DMA), 0.85, 0.8466 (110-month EMA)
Resistance levels - 0.8598 (20-DMA), 0.8611 (21-EMA), 0.8686 (55-month EMA)
Summary: EUR/GBP set for minor upside. Reports that the European Union is set to block exports of Oxford-AstraZeneca vaccines to the UK might weigh on the British pound. A significant shortage in vaccine supplies could derail the UK government's plan to exit the current lockdown and dampen prospects for a swift economic recovery. 21-EMA is major resistance at 0.8611, break above to see further gains.
