- EUR/GBP broke above the bearish trendline from August 9 as bulls are trying to re-establish the main bullish trend.
- Bulls are trading above the 50, 100 and 200-period simple moving average for the first time in the last four days suggesting that bulls are getting some traction. The extra-confirmation of the bull trend resumption will be on a strong breakout above Tuesday’s high at 0.8940. Targets to the upside are located near 0.8965 and 0.9000 figure.
- A bear breakout below 0.8900 would invalidate the bullish bias.
EUR/GBP 15-minute chart
Spot rate: 0.8930
Relative change: 0.13%
High: 0.8936
Low: 0.8901
Main Trend: Bullish
Resistance 1: 0.8940 August 14 high
Resistance 2: 0.8965 supply/demand level
Resistance 3: 0.9000 figure
Support 1: 0.8900 July 9 high
Support 2: 0.8868, 13 July high
Support 3: 0.8840 supply level