Chart - Courtesy Trading View
Technical Analysis: Bias Bullish
GMMA Indicator
- Major trend is neutral, while minor trend is bullish
Ichimoku Analysis
- Price action is below the daily cloud
- Chikou span is biased higher, raising scope for some upside
Oscillators
- Stochs and RSI are biased higher, momentum is bullish
- Oscillators are in neutral territory with room to run further
Bollinger Bands
- Bollinger bands are wide and gap is widening
- Volatility is high and rising with scope to carry forward current momentum
Major Support Levels: 1.2301 (5-DMA), 1.2273 (21-EMA)
Major Resistance Levels: 1.2362 (55-EMA), 1.24
Summary: EUR/GBP trades with a bullish momentum. Scope for test of 55-EMA at 1.2362. Watch out for decisive break above for upside continuation.
