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  |   Technicals


FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

GMMA Indicator

- Daily: Major trend is neutral, minor trend has turned bullish

- Hourly: Major and minor trend are bullish

Ichimoku Analysis

- Price action remains capped inside the daily cloud

- The pair trades well below the weekly cloud


- Stochs and RSI show bullish momentum

- RSI is well above the 50 mark, supporting the current uptrend

Bollinger Bands

- Bollinger bands are spread wide apart, gap is increasing

- Volatility is high and rising

Major Support Levels: 0.8488 (55-EMA), 0.8470 (21-EMA)

Major Resistance Levels: 0.8522 (110-EMA), 0.8557 (200-DMA)

Summary: EUR/GBP capped at 110-EMA and daily cloud. Decisive break above will see further upside. Scope for test of 200-DMA at 0.8557.

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