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EUR/GBP chart - Trading View
After extending sideways for the previous 2 sessions, EUR/GBP has resumed upside.
EUR/GBP was trading 0.60% higher at 0.8884 at around 12:30 GMT, momentum studies bullish.
Bounce off 200-DMA has found strong resistance at daily cloud at 0.8890, break above will see further gains.
Technical studies support further gains. Volatility is rising as evidenced by widening Bollinger bands.
RSI is above 50 and stochs show bullish momentum. Price action has broken above 200W SMA.
Analysis of the GMMA indicator shows major trend is neutral, while minor trend is strongly bullish.
Breakout above daily cloud will open upside. Next bull target above cloud lies at 61.8% Fib retracement at 0.9183.
On the flipside, 21-EMA is immediate support at 0.8785. Retrace below 200-DMA negates any bullish bias.
