Chart - Courtesy Trading View
EUR/GBP spiked sharply higher on the day and was trading 0.63% higher at 0.8354 at around 12:00 GMT, slightly lower from session highs at 0.8366.
The pair has shown a break above daily cloud and 50-DMA, raising scope for further gains.
5-DMA and RSI have turned north and RSI has edged above the 50-mark. Stochs are on verge of bullish rollover from oversold levels.
GMMA indicator shows major trend is bearish, while minor trend is turning bullish.
Price action has edged above 200H MA. Decisive break above cloud and 50-DMA will reinforce further upside.
Traders will further take cues from the Bank of England Governor Andrew Bailey's appearance at an event in Washington DC.
Support levels - 0.8329 (cloud base), 0.8308 (200H MA), 0.83 (5-DMA
Resistance levels - 0.8349 (50-DMA), 0.8388 (110-EMA), 0.8448 (200-DMA)
Summary: EUR/GBP was trading pivotal at 50-DMA and cloud top. Watch for decisive break above for upside continuation.
