EUR/GBP chart - Trading View
EUR/GBP was trading 0.12% higher on the day at 0.8572 at around 06:30 GMT.
The pair finds stiff resistance at 200-DMA at 0.8580, decisive break above required for further gains.
Technical indicators support upside in the pair. MACD is in the positive zone and biased higher.
GMMA indicator shows near-term moving averages have turned bullish on the daily charts.
Momentum is strongly bullish, Stochs and RSI are sharply higher and RSI is above the 60 mark.
Volatility is high and rising as evidenced by widening Bollinger bands, scope for upside continuation.
Major Support Levels:
S1: 0.8545 (110-EMA)
S2: 0.8535 (5-DMA)
S3: 0.8511 (55-EMA)
Major Resistance Levels:
R1: 0.8580 (200-DMA)
R2: 0.86
R3: 0.8655 (Trendline)
Summary: EUR/GBP trades with a bullish bias. Watch out for decisive break above 200-DMA for further gains. Next major bull target lies at 0.8655.
