EURGBP Levels: The bias remains bullish
|EUR/GBP
The bias remains bullish.
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Pivot (invalidation): 0.8755
Our preference
Long positions above 0.8755 with targets at 0.8780 & 0.8800 in extension.
Alternative scenario
Below 0.8755 look for further downside with 0.8740 & 0.8725 as targets.
Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.
EUR/CHF
Our pivot (invalidation) point stands at 1.1574.
Our preference
The downside prevails as Long as 1.1574 is resistance.
Alternative scenario
The upside breakout of 1.1574, would call for 1.1604 and 1.1621.
Comment
The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 1.1558 and 1.1555).
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