- The upside break of the descending trendline seen in the 15-minute chart indicates the pull back from the 10-month high of 0.9030 has likely run its course.
- EUR/GBP looks set to revisit the previous day’s high of 0.9030 and may rise further if the UK GDP, industrial production and trade balance data paints a negative picture of the economy.
15-minute chart
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Spot Rate: 0.8985
Daily High: 0.8990
Daily Low: 0.8981
Trend: Bullish
R1: 0.90 (psychological level)
R2: 0.9017 (resistance as per the hourly chart)
R3: 0.9030 (previous day’s high)
Support
S1: 0.8981 (support as per the hourly chart)
S2: 0.8966 (100-hour moving average)
S3: 0.8950 (daily pivot support 2)
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