EUR/GBP outlook: The cross rises to one-month high on fresh Euro's advance
|EUR/GBP
The cross hit new one-month high, as bulls probe above psychological 0.90 barrier (reinforced by double-Fibo barrier at 0.8991 & 1.9009).
Fresh advance was fueled EURUSD’s jump, sparked by renewed hopes for positive outcome of US/China trade talks.
Bullish daily techs add to positive outlook, as the pair holds in green for the fifth straight day and twist of daily cloud (0.9107) also expected to attract.
However, bulls need confirmation on close above 0.90 barrier for confirmation and extension towards targets at 0.9022 (55DMA) and 0.9055 (50% retracement of 0.9324/0.8786 descend).
Broken 100DMA marks solid support, which should hold and keep bears intact, otherwise correction could be anticipated, as daily stochastic is overbought.
Res: 0.9009; 0.9022; 0.9055; 0.9082
Sup: 0.8991; 0.8978; 0.8937; 0.8918
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