EUR/GBP Technical Analysis: Set-up points to extension of the recent positive momentum

Haresh Menghani FXStreet

• The cross continued with its consolidative price action just three-week tops and has been making higher lows on intraday charts, forming a bullish ascending triangle.

• Given that the cross is holding comfortably above important daily moving averages - 50, 100 & 200-day SMAs, add credence to the near-term constructive outlook.

• Meanwhile, bullish technical indicators on hourly/daily charts further support prospects for an extension of the pair's strong momentum witness last week.

EUR/GBP 15-mins chart

EUR/GBP

Overview:
    Last Price: 0.8917
    Daily change: 6.0 pips
    Daily change: 0.0673%
    Daily Open: 0.8911
Trends:
    Daily SMA20: 0.8812
    Daily SMA50: 0.8834
    Daily SMA100: 0.8884
    Daily SMA200: 0.8836
Levels:
    Daily High: 0.8926
    Daily Low: 0.8886
    Weekly High: 0.8906
    Weekly Low: 0.8656
    Monthly High: 0.8942
    Monthly Low: 0.8722
    Daily Fibonacci 38.2%: 0.8911
    Daily Fibonacci 61.8%: 0.8902
    Daily Pivot Point S1: 0.8889
    Daily Pivot Point S2: 0.8868
    Daily Pivot Point S3: 0.8849
    Daily Pivot Point R1: 0.893
    Daily Pivot Point R2: 0.8948
    Daily Pivot Point R3: 0.897

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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