Search ForexCrunch

   “¢   The cross built on its recent positive momentum and has now reversed all of its monthly losses to near four-month lows, touched earlier this month.  

   “¢   The up-move has been along a short-term ascending trend-channel formation on the daily chart and now seems to have paused near the channel resistance.

   “¢   Technical indicators on hourly charts are still far from being in overbought territory and have also started catching up with the positive momentum on the daily chart.

   “¢   The set-up support prospects for an extension of the bullish move and the same will be confirmed on a sustained move beyond the trend-channel resistance.
 

EUR/GBP 4-hourly chart

EUR/GBP

Overview:
       Last Price:  0.891
       Daily change:  21  pips
       Daily change:  0.236%
       Daily Open:  0.8889
Trends:
       Daily SMA20:  0.8816
       Daily SMA50:  0.8898
       Daily SMA100:  0.8884
       Daily SMA200:  0.8837
Levels:
       Daily High:  0.8902
       Daily Low:  0.8868
       Weekly High:  0.8897
       Weekly Low:  0.8798
       Monthly High:  0.9054
       Monthly Low:  0.8848
       Daily Fibonacci 38.2%:  0.8889
       Daily Fibonacci 61.8%:  0.8881
       Daily Pivot Point S1:  0.8871
       Daily Pivot Point S2:  0.8853
       Daily Pivot Point S3:  0.8837
       Daily Pivot Point R1:  0.8905
       Daily Pivot Point R2:  0.8921
       Daily Pivot Point R3:  0.8939