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EUR/GBP Technical Analysis: Constructive outlook can push EUR/GBP to 0.9000 figure

  • EUR/GBP is up for the third consecutive day as EUR/GBP is resuming its main bull trend. 
  • Bulls are keeping the trend on track as the market is trading above its 50, 100 and 200-period simple moving averages. The target to the upside is located near the 0.9000 figure
  • A sustained bear breakout below 0.8940 would put the rally on hold. 

EUR/GBP 15-minute chart

Spot rate:                0.8956

Relative change:     0.09%     
High:                       0.8973
Low:                        0.8935

Main Trend:            Bullish

Resistance 1:         0.8965 supply/demand level
Resistance 2:         0.9000 figure
Resistance 3:         0.9032 current 2018 high

Support 1:              0.8940 August 14 high
Support 2:              0.8900 July 9 high
Support 3:              0.8868, 13 July high
Support 4:              0.8840 supply level

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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