EUR/GBP on track to test 100-DMA at 0.8635, stay long
EUR/GBP has closed above 20-DMA on Thursday's trade, momentum indicators are biased higher.
The pair finds strong support by 200-DMA at 0.8320, violation at 200-DMA could see drag upto 0.8078 (50% Fib of 0.6930 to 0.9225 rally).
We see scope for further upside, test of 100-DMA at 0.8635 and then 0.8683 (23.6% Fib) likely.
Support levels - 0.85, 0.8438 (20-DMA), 0.8448 (5-DMA), 0.8348 (38.2% Fib)
Resistance levels - 0.8571 (Dec 8 high), 0.86, 0.8635 (100-DMA), 0.8683 (23.6% Fib)
Good to go long on dips, SL: 0.8440, TP: 0.8570/0.86/ 0.8635
The pair finds strong support by 200-DMA at 0.8320, violation at 200-DMA could see drag upto 0.8078 (50% Fib of 0.6930 to 0.9225 rally).
We see scope for further upside, test of 100-DMA at 0.8635 and then 0.8683 (23.6% Fib) likely.
Support levels - 0.85, 0.8438 (20-DMA), 0.8448 (5-DMA), 0.8348 (38.2% Fib)
Resistance levels - 0.8571 (Dec 8 high), 0.86, 0.8635 (100-DMA), 0.8683 (23.6% Fib)
Good to go long on dips, SL: 0.8440, TP: 0.8570/0.86/ 0.8635