EUR/GBP formed a strong base near 200-hour SMA and jumped to fresh weekly tops. The technical set-up already seems to have shifted back in favour of bullish traders. RSI on the 1-hourly chart warrants some caution before placing fresh bullish bets. The EUR/GBP cross caught some fresh bids during the early North American session and shot to fresh weekly tops, around the 0.9085 region in the last hour. The momentum marked a bullish breakout through a two-day-old trading range around 200-hour SMA and pushed the EUR/GBP cross beyond the overnight swing highs. A subsequent strength beyond the 50% Fibonacci level of the recent pullback from the 0.9215-20 double-top resistance might have already set the stage for additional gains. The constructive outlook is further reinforced by the fact that technical indicators have again started gaining positive traction on 4-hourly/daily charts. However, RSI on the 1-hourly chart is holding near the overbought territory and warrants some caution before positioning for any further intraday appreciating move. That said, the EUR/GBP cross still seems poised to build on its recent bounce from one-month tops, around the 0.8930 region touched last Thursday. Hence, some follow-through positive move beyond the 0.9090 congestion zone, en-route the 61.8% Fibo. level, just above the 0.9100 round-figure mark, now looks a distinct possibility. On the flip side, the 0.9055 horizontal level now seems to protect the immediate downside. This is closely followed by the 38.2% Fibo. level and 200-hour SMA, currently near the 0.9025 region. Failure to defend the mentioned support levels will negate the positive outlook and turn the EUR/GBP cross vulnerable to slide further. EUR/GBP 1-hourly chart Technical levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Zilliqa Price Prediction: ZIL targets $0.10 after clearing crucial supply barrier FX Street 1 year EUR/GBP formed a strong base near 200-hour SMA and jumped to fresh weekly tops. The technical set-up already seems to have shifted back in favour of bullish traders. RSI on the 1-hourly chart warrants some caution before placing fresh bullish bets. The EUR/GBP cross caught some fresh bids during the early North American session and shot to fresh weekly tops, around the 0.9085 region in the last hour. The momentum marked a bullish breakout through a two-day-old trading range around 200-hour SMA and pushed the EUR/GBP cross beyond the overnight swing highs. A subsequent strength beyond the 50% Fibonacci level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.