“¢ 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
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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
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