Send me real-time posts from this site at my email
Fan Yang

EUR/GBP - Bullish Breakout Confirmed; 0.91 and 0.93 in Sight

Last time we looked at $EURGBP, it was in a pullback after a breakout. I suggested monitoring the 0.8870 area for support, which would confirm the bullish breakout.

I like EUR/GBP Here Around 0.8870

EUR/GBP Daily Chart

(click to enlarge)

Key Support Holds:
- EUR/GBP came down to 0.8850 and rebounded, respecting the rising trendline, the cluster of moving averages, most importantly the 200-day SMA, and the previous channel resistance as support.
- Furthermore, the RSI held above 40, which suggests maintenance of the prevailing bullish momentum. 
- Finally, a strong bullish candle represented the reaction from this support area. 
- These are all good signs for the bullish outlook.
- There is strong upside to 0.91. 
- If price can start anchoring above 0.90, EUR/GBP will have the 0.93 high from 2017 in sight. 

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue