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FxWirePro: EUR/GBP extends bounce off cloud support, eyes trendline at 0.9340

EUR/GBP chart - Trading View 

Technical Analysis: Bias Bullish

GMMA Indicator

- Major trend is bullish and minor trend is turning bullish on the daily charts

- On the weekly charts, major and minor trend are bullish

Ichimoku Analysis

- Price action is above cloud on the daily and weekly charts

- Chikou span is biased higher, suggesting continuation of uptrend


- Stochs and RSI are biased higher, RSI is above 50 suggesting strength in uptrend

Bollinger Bands

- Bollinger bands are wide suggesting strong volatility

Major Support Levels: 0.9120 (20-DMA), 0.9060 (55-EMA), 0.8993 (110-EMA)

Major Resistance Levels: 0.9175 (June 29 high), 0.9291 (Sept 11 high), 0.9340 (trendline)

Summary: Technical studies support further gains in the pair. Price action is extending bounce off cloud support. Scope for test of trendline resistance at 0.9340.

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