Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.17% higher on the day at 0.8512 at around 12:45 GMT
- The pair is set to extend bounce off daily cloud support
- Minor pullbacks have bounced off 200H MA support (currently at 0.8834
- MACD confirms bullish crossover on signal line, Chikou span is biased higher
- Momentum is bullish, Stochs and RSI are biased higher, RSI is above 50 mark
Support levels:
S1: 0.8866 (5-DMA)
S2: 0.8844 (21-EMA)
Resistance levels:
R1: 0.89 (Psychological mark)
R2: 0.8928 (Feb 17th high)
Summary: EUR/GBP was trading with a bullish bias. Weakness only below daily cloud.
