EURGBP gained momentum after weak UK GDP data. It hit a high of 0.84438 at the time of writing and is currently trading around 0.84406.
UK economic growth stagnated at 0% in July for the second consecutive month. It came below expectations of 0.20%
Technicals-
Intraday trend is neutral.
The pair trades below 34- and above 55 EMA in the 1-hour chart.
The near-term resistance is around 0.8450, a breach above targets of 0.84864. Any close above 0.84865 confirms bearish trend was completed at 0.8400, a jump to 0.8540 is possible. The immediate support is at 0.8420, any violation below will drag the pair to 0.83830 (Jul 17th, 2024). Any close below 0.83830 confirms the resumption of a major downtrend, a dip to 0.8330/$0.82550 is possible.
Indicator (hourly chart)
CCI (14)- Bullish
CCI (50)- Bullish
Average directional movement Index - Neutral
It is good to buy on dips around 0.8440 with SL around 0.8400 for a TP of 0.8485.


FxWirePro: GBP/AUD takes back some lost ground
NZD/JPY Rockets as Kiwi Dollar Resilience Defies the Oil Shock
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD falls below 1.6600 level, plunge to test a key fibo grows
FxWirePro: GBP/USD climbs to 4 -week high as ceasefire deal gives bulls traction
FxWirePro: USD/ JPY slips as yen rallies after Mideast ceasefire declaration
FxWirePro: EUR/AUD claws back some losses but rcovery likely muted
FxWirePro- Major European Indices
FxWirePro:NZD/USD jumps as RBNZ warns of higher OCR potential
EUR/JPY Breaks Out: Euro Surges Past 185.00 Resistance Amid Strong Bullish Momentum
Bitcoin Breaks the $70,000 Barrier: Bulls Target the $80,000 Horizon as Geopolitical Relief Ignites Crypto Markets
FxWirePro: GBP/NZD reverses course, bias back to downside
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/NZD remains under pressure as key support gives way
Ethereum Reclaims Higher Ground: Ether Bulls Target $2,700 as Middle East Tensions Thaw
FxWirePro: AUD/USD spikes as Trump announces two-week Iran ceasefire
FxWirePro: USD/ZAR slips sharply lower as US-Iran ceasefire lifts risk appetite 



