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FxWirePro: EUR/GBP pauses shy of 200-DMA, decisive break above required for further upside

Chart - Courtesy Trading View EUR/GBP was trading 0.05% lower on the day at 0.84 at around 10:20 GMT. The pair has paused upside just shy of 200-DMA resistance, decisive break above required for upside continuation. Sign…

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FxWirePro: EUR/GBP pauses shy of 200-DMA, decisive break above required for further upside
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Chart - Courtesy Trading View 

EUR/GBP was trading 0.05% lower on the day at 0.84 at around 10:20 GMT.

The pair has paused upside just shy of 200-DMA resistance, decisive break above required for upside continuation.

Signs of exhaustion seen in bulls as oscillators approach overbought levels, scope for some weakness.

Inverted Hammer and Doji formations on the daily candle add to the possibility of pullbacks.

GMMA indicator shows near-term trend is bullish. The pair finds immediate support at 110-EMA at 0.8389.

Break above 200-DMA is required for upside continuation, while breach below cloud will negate any further bullishness. 
 

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