EUR/GBP Technical Analysis: Focus on today’s close

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EUR/GBP created a classic doji candle yesterday, signaling indecision in the market place. A close below 0.8666 today would signal a continuation of the sell-off from the Feb. 14 high of 0.8840. A close above 0.8704 (previous day’s high) would confirm the bull doji reversal.

Looking at the hourly chart,  a daily close above 0.8704 looks likely.

Hourly chart

  • As seen above, the pair has crossed the trendline sloping downwards from Feb. 14 highs and relative strength index (RSI) is biased bullish above.

Trend: Bullish above 0.8704

 

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