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EUR/GBP intraday: above its upper Bollinger band
2024-07-15
158
Our pivot point is at 0.8395.
Our preference: the upside prevails as long as 0.8395 is support.
Alternative scenario: the downside breakout of 0.8395 would call for 0.8382 and 0.8375.
Comment: the RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 0.8397 and 0.8398). Finally, the EUR/GBP has crossed above its upper Bollinger band (0.8405).
Supports and resistances:
0.8446 **
0.8438 *
0.8431 **
0.8423
0.8408 last
0.8400
0.8395 **
The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.
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