EUR/GBP chart - Trading View
Technical Analysis: Bias Turning Bullish
- EUR/GBP trades 0.40% higher on the day at 0.8634 at 10:50 GMT
- Hammer formation on Previous days candle suggests indecision to drag prices lower
- Price has edged above 5-DMA and 5-DMA is showing a turn
- Stochs and RSI are at highly oversold levels and are on verge of bullish rollover
- GMMA indicator shows near-term MAs have edged above long-term MAs on the hourly charts
Support levels - 0.8626 (5-DMA), 0.8560 (76.8% Fib), 0.8463 (110 month EMA)
Resistance levels - 0.8661 (200H MA), 0.8688 (55 month EMA), 0.8721 (21-EMA)
Summary: EUR/GBP pauses downside at 76.8% Fib. Major trend in the pair is bearish. However, minor signs of reversal seen on intraday charts. Break above 200H MA at 0.8661 could see further gains.
