Home Daily Analysis Charts / Trade Ideas EURGBP Update: The Bullish Strength is Back

EURGBP Update: The Bullish Strength is Back

92
0

Yesterday the EURGBP seemed to start a retracement, after a nice bullish leg. The 4H chart showing a key reversal figure and the indicators pointing to oversold conditions.

That was a fake movement because the rest of the day the price moved back up and close at what we considered the invalidation level for a possible short position.

Price action: Today’s chart shows that the continuation of the main trend the upside is in place.

Technical Indicators:

The Stochastics: although in the overbought area, it turned up again

MACD: Bullish

Woodies CCI: Bullish, although close to +200, an overbought level.

 

 Resistances:

R1 0.89473

R2 0.9000

R3 0.90680

Supports:

S1 0.88755

S2 0.8800

S3 0.8765

LEAVE A REPLY

Please enter your comment!
Please enter your name here