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Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.31% higher on the day at 0.8837 at around 10:00 GMT
- The pair has extended gains inside daily cloud, refreshing 2-month highs above 0.88 handle
- GMMA indicator shows major and minor trend are strongly bullish on the daily charts
- Volatility is high and rising and momentum is bullish, Stochs and RSI are sharply higher
- Price action has bounced off 200-DMA support, breakout above cloud will fuel further gains
Support levels:
S1: 0.8807 (5-DMA)
S2: 0.8753 (200H MA)
Resistance levels:
R1: 0.8856 (Upper BB)
R2: 0.8924 (Cloud top)
Summary: EUR/GBP trades with a bullish bias. Scope for test of cloud top at 0.8924. Decisive breakout above cloud will fuel further upside.
