“¢ The cross built on the overnight bounce from over three-week lows and traded with a positive bias for the third consecutive session on Thursday.
“¢ A sustained move beyond a short-term descending trend-line, extending from last Thursday, was seen as a key trigger for intraday bullish traders.
“¢ The positive momentum remained supported by bullish technical indicators on the 1-hourly chart and has now lifted the cross to 100-hour SMA.
“¢ A follow-through buying has the potential to lift the cross further towards its next hurdle near the 0.8740-50 region, coinciding with 200-hour SMA.
“¢ Meanwhile, oscillators on 4-hourly/daily charts are yet to catch up with the momentum and might turn out to be the only factor capping the up-move.
EUR/GBP 1-hourly chart
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EUR/GBP
Overview:
Today Last Price: 0.8707
Today Daily change %: 0.11%
Today Daily Open: 0.8697
Trends:
Daily SMA20: 0.8746
Daily SMA50: 0.8861
Daily SMA100: 0.8851
Daily SMA200: 0.8864
Levels:
Previous Daily High: 0.8705
Previous Daily Low: 0.8665
Previous Weekly High: 0.8842
Previous Weekly Low: 0.8743
Previous Monthly High: 0.9119
Previous Monthly Low: 0.8617
Daily Fibonacci 38.2%: 0.869
Daily Fibonacci 61.8%: 0.868
Daily Pivot Point S1: 0.8673
Daily Pivot Point S2: 0.8649
Daily Pivot Point S3: 0.8633
Daily Pivot Point R1: 0.8713
Daily Pivot Point R2: 0.8729
Daily Pivot Point R3: 0.8753
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