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FxWirePro: EUR/GBP Daily Outlook

Tuesday, August 30, 2022 4:37 PM UTC

Chart - Courtesy Trading View

Technical Analysis:

- EUR/GBP was trading 0.75% higher on the day at 0.8599 at around 16:25 GMT

- Three White Soldiers pattern on the daily charts raises scope for further upside in the pair

- Price action has broken past cloud top,

- Momentum is bullish, stochs and RSI are sharply higher, RSI is well above the 50 mark

- GMMA indicator shows minor trend is bullish, while major trend is turning bullish

Support levels:

S1: 0.8568 (110-week EMA)

S2: 0.8497 (5-DMA)

Resistance levels:

R1: 0.8632 (Upper BB)

R2: 0.8699 (200-week MA)

Summary: EUR/GBP was trading with a bullish bias. Close above the daily cloud will boost further upside in the pair.

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FxWirePro: EUR/GBP Daily Outlook

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