EUR/GBP Price Analysis: Breaking five day-range, more gains seen above 0.9100
- EUR/GBP breaks to the upside in line with the dominant trend.
- Technical indicators point to further gains, with a potential target at 0.9140.
The EUR/GBP pair is consoling above 0.9070, a bullish sign. It is about to test 0.9100 and will likely break higher if the current momentum remains in place. The next bullish target could be seen at 0.9130 and above the next resistance emerges at 0.9145.
The upside bias will remain in place while above the uptrend line from May low, currently at 0.8960. Before the mentioned level, a strong support is seen at 0.9015.
A retreat below 0.9060 would suggest the euro is not ready to extend the bullish run, likely leading to more range trading between 0.9020 and 0.9070.
EUR/GBP 4-hour chart
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EUR/GBP dialy chart
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Author
Matías Salord
FXStreet
Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.
