EUR/GBP Technical Analysis: price holding above the bearish triangle's resistance

EUR/GBP is osciliating around the 10-D SMA with the price holding abovethe bearish triangle's resistance.
Dips are bought at the rising 21-D SMA while RSI points to a period of consolidation on the daily sticks.

Ross J Burland FXStreet

Spot rate: 0.8840
High: 0.8843
Low: 0.8838

Trend: Bullish while above bearish triangle resistance.

Resistance 1: 0.8880
Resistance 2: 0.8943 (5th May tops).
Resistance 3: The 0.9034 October 2017 high on the wide is a key upside.

Support 1: 0.8847 (10-D SMA)
Support 2: 0.8813 (21-D SMA)
Support 3: 0.8620 protects a run towards 0.8526 as being the 78.6% retracement of the move from 2017 on the wide.

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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