- The EUR/GBP’s hourly chart is showing a bull flag breakout – a bullish continuation pattern – which indicates the rally from 0.8707 (pole low) has resumed.
- The stacking order of the 50-hour moving average (MA), above the 100-hour MA, above the 200-hour MA indicates the path of least resistance is on the higher side. The 14-hour relative strength index (RSI) of 61.00 is biased toward the euro bulls.
- So, the stage looks set for a rally to 0.9050 (target as per the measured height method). A move below Friday’s low of 0.8824 would abort the bullish view.
Hourly Chart
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Trend: Bullish
EUR/GBP
Overview:
Last Price: 0.8889
Daily change: -10 pips
Daily change: -0.112%
Daily Open: 0.8899
Trends:
Daily SMA20: 0.8803
Daily SMA50: 0.8834
Daily SMA100: 0.8882
Daily SMA200: 0.8835
Levels:
Daily High: 0.8906
Daily Low: 0.8824
Weekly High: 0.8906
Weekly Low: 0.8656
Monthly High: 0.8942
Monthly Low: 0.8722
Daily Fibonacci 38.2%: 0.8875
Daily Fibonacci 61.8%: 0.8856
Daily Pivot Point S1: 0.8847
Daily Pivot Point S2: 0.8795
Daily Pivot Point S3: 0.8765
Daily Pivot Point R1: 0.8929
Daily Pivot Point R2: 0.8959
Daily Pivot Point R3: 0.9011
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