“¢ The cross failed to capitalize on the intraday positive momentum to 3-1/2 week tops and faltered ahead of the 0.8700 handle, coinciding with 50-day SMA resistance. “¢ Slightly overbought conditions on hourly charts seemed to be the only factor capping gains, rather prompting some long-unwinding/profit-taking move on Thursday. “¢ However, given the overnight bullish break beyond a two-month-old descending trend-line resistance, the current pull-back might still be seen as a buying opportunity. “¢ Technical indicators on the daily chart have also started recovering from the negative territory and further add credence to the near-term constructive outlook. “¢ Hence, any meaningful dip is more likely to attract some dip-buying interest for an eventual move towards 0.8740 horizontal resistance en-route 100-day SMA. EUR/GBP daily chart 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 Wall Street posts modest gains in early trade boosted by technology shares FX Street 4 years "¢ The cross failed to capitalize on the intraday positive momentum to 3-1/2 week tops and faltered ahead of the 0.8700 handle, coinciding with 50-day SMA resistance. "¢ Slightly overbought conditions on hourly charts seemed to be the only factor capping gains, rather prompting some long-unwinding/profit-taking move on Thursday. "¢ However, given the overnight bullish break beyond a two-month-old descending trend-line resistance, the current pull-back might still be seen as a buying opportunity. "¢ Technical indicators on the daily chart have also started recovering from the negative territory and further add credence… 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.
