EUR/GBP Price Analysis: Upside momentum eyes 0.9100
- EUR/GBP stays positive above 200-bar SMA, inside weekly ascending channel.
- Multiple upside barriers challenge the bulls beyond 0.9100.
EUR/GBP prints 0.20% intraday gains while trading around 0.9070 ahead of Tuesday’s European session. In doing so, the pair keeps its run-up beyond 200-bar SMA, as portrayed by the one-week-old ascending trend channel formation.
The mood also got a back-up from MACD conditions to keep the EUR/GBP buyers hopeful despite the previous day’s pullback from the seven-week top.
Hence, the quote presently eyes the 0.9100 round-figure ahead of looking to revisit the previous day’s high of 0.9142.
However, any more upside past-0.9142 may catch a breather around the upper line of the stated channel, at 0.9153, if not then October’s top near 0.9163 may return to the charts.
Alternatively, a downside break of the channel support, at 0.9015 now, can recall the 0.9000 but the key SMA support, around 0.8985, could disappoint EUR/GBP sellers afterward.
EUR/GBP four-hour chart
Trend: Bullish
Author
Anil Panchal
FXStreet
Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.
