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FxWirePro: EUR/GBP Near-Term Outlook
EUR/GBP chart - Trading View
EUR/GBP trades with a bullish momentum, potential 'Golden Cross' keeps scope for gains.
The pair holds 5-DMA support and edges higher with 'Hammer' formation which signals buying pressure at lows.
Price action has paused shy of 61.8% Fib retracement at 0.90, break above will see further upside.
Momentum studies are bullish, Stochs and RSI are sharply higher and DMI supports upside.
Break above 61.8% Fib will take the pair to 0.9092 (Jan 3rd high) ahead of 0.9131 (78.6% Fib).
5-DMA is immediate support at 0.8930. Break below 21-EMA will see dip till 200-DMA at 0.8779.
Support levels - 0.8929 (5-DMA), 0.8884 (21-EMA), 0.8873 (Jun 20 low)
Resistance levels - 0.8994 (61.8% Fib), 0.9092 (Jan 3 high), 0.9131 (78.6% Fib)
For details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex.