• The cross, over the past two weeks or so, has been trending higher along a short-term ascending trend-line and is now looking to build on the momentum further beyond the very important 200-day SMA.
• Renewed Brexit uncertainties overshadowed Italian budgetary concerns and seemed to be one of the key factors behind the British Pound's relative underperformance against its European counterpart.
• Given that the cross remains well above key intraday important moving averages - 50, 100 & 200-hour SMA, the positive momentum seems more likely to gather steam amid empty economic docket.
• Meanwhile, bullish technical indicators on hourly charts further support prospects for additional gains, though are yet to catch up with the positive moment on the daily chart and thus, warrant some caution.
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EUR/GBP
Overview:
Last Price: 0.8843
Daily change: 31 pips
Daily change: 0.352%
Daily Open: 0.8812
Trends:
Daily SMA20: 0.8832
Daily SMA50: 0.8908
Daily SMA100: 0.8879
Daily SMA200: 0.8837
Levels:
Daily High: 0.8836
Daily Low: 0.8776
Weekly High: 0.8836
Weekly Low: 0.8753
Monthly High: 0.9054
Monthly Low: 0.8848
Daily Fibonacci 38.2%: 0.8813
Daily Fibonacci 61.8%: 0.8799
Daily Pivot Point S1: 0.878
Daily Pivot Point S2: 0.8748
Daily Pivot Point S3: 0.872
Daily Pivot Point R1: 0.884
Daily Pivot Point R2: 0.8868
Daily Pivot Point R3: 0.89
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