Technicals

Add as a preferred source on Google

FxWirePro: EUR/GBP upside capped by 5-DMA at 0.8392, long break above

EUR/GBP halts downside, recovery attempts capped by 5-DMA at 0.8392. Successive spinning top and dragonfly Doji formation seen at lows suggest fading downside momentum. Major support levels - 0.8352 (Sept 5 low), 0.8333 …

1 min read
FxWirePro: EUR/GBP upside capped by 5-DMA at 0.8392, long break above
Image from the original EconoTimes article

Read the original article

  • EUR/GBP halts downside, recovery attempts capped by 5-DMA at 0.8392.
     
  • Successive spinning top and dragonfly Doji formation seen at lows suggest fading downside momentum.
     
  • Major support levels - 0.8352 (Sept 5 low), 0.8333 (Sept 6 low), 0.83
     
  • Major resistance levels - 0.8406 (cloud top), 0.8457 (10-DMA), 0.85, 0.8537 (20-DMA)
    ​

Recommendation: Good to go long on breakout above 0.8395, SL: 0.8350, TP: 0.8457/ 0.85/ 0.8535
 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560