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EUR/GBP Technical Analysis: EUR/GBP keeps gains above 0.8900 level

  • EUR/GBP jumped 70 pips as the Bank of England delivered its dovish rate hike.
  • EUR/GBP  regained the 0.8900 level and is now trading above the 50, 100 and 200-period simple moving averages suggesting a mild bullish bias.  
  • However, EUR/GBP would need to surpass the 0.8937 July 31 high, to give extra-confirmation of the bullish momentum.  

EUR/GBP 15-minute chart

Spot rate:                0.8910

Relative change:     0.31%      
High:                       0.8926
Low:                        0.8854

Trend:                     Bullish

Resistance 1:         0.8920 supply level
Resistance 2:         0.8937 July 31 high
Resistance 3:         0.8957 July 20 high
Resistance 4:         0.8967 March 7 high
Resistance 5:         0.9013 November 12, 2017 high

Support 1:              0.8900 July 9 high
Support 2:              0.8868, 13 July high
Support 3:              0.8840 supply level
Support 4:              0.8820-0.8840 area, 200-day SMA  
Support 5:              0.8800 figure
Support 6:              0.8780 daily 50-period SMA
Support 7:              0.8764 June 8 low  

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