Technical Analysis for EUR/GBP

Technical Analysis for EUR/GBP

Yesterday's drop remained in levels above 0.8575 and Linear Regression Indicators retained positivity, as the EUR/GBP pair settled above the Exponential Moving Average (EMA) 50. Based on these technical catalysts, we believe trading above 0.8575 validates chances of an uptrend for today.

The trading range expected for today is between the key support at 0.8500 and the key resistance at 0.8760

The short-term trend is upside targeting 1.0370 if 0.7785 remains intact

Support: 0.8615, 0.8600, 0.8575, 0.8550, 0.8535
Resistance: 0.8655, 0.8680, 0.8700, 0.8720, 0.8760

Recommendation Based on the above graph and explanation, we recommend buying the pair above 0.8600 targeting 0.8655, 0.8680 and 0.8700 and stop-loss at four-hour closing below 0.8575