Technical Analysis for EUR/GBP

Technical Analysis for EUR/GBP

EUR/GBP's trading settled above the uptrend's key support, as shown on the above graph. Stability above 0.8700 is now viewed as positive, and it could very well bolster the pair to touch levels surrounding 0.8800 again.

The trading range expected today is between the key support at 0.8615 and the key resistance at 0.8840

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

Support: 0.8740, 0.8720, 0.8700, 0.8655, 0.8615
Resistance: 0.8760, 0.8800, 0.8840, 0.8890, 0.8930

Recommendation Based on the above graph and explanation, we recommend buying the pair above 0.8740 targeting 0.8760, 0.8800 and 0.8840 and stop-loss with four-hour closing below 0.8655.