EURGBP trades flat with no direction. It hits a high of 0.84636 yesterday and is currently trading around 0.84397.
Technicals-
Intraday trend is neutral.
The pair is trading below 34- and above 55 EMA in the 4-hour chart.
The near-term resistance is around 0.84636, a breach above targets 0.84650/0.84864 (38.2% fib of 0.8624 to 0.8399). Any close above 0.84865 confirms minor bullishness, a jump to 0.8540 is possible. The immediate support is at 0.8420, any violation below will drag the pair to 0.8399/0.83830 (Jul 17th 2024). Any close below 0.83830 confirms resumption of major downtrend, a dip to 0.8330/$0.82550 is possible.
Indicator (4- hour chart)
CCI (14)- Neutral
CCI (50)- Neutral
Average directional movement Index - Neutral
It is good to buy on dips around 0.8420 with SL around 0.8400 for a TP of 0.8485.
