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EUR/GBP Stabilizing Above SMA20

Published 03/23/2015, 06:05 AM
Updated 07/09/2023, 06:31 AM

-By examining the daily chart of EUR/GBP, we can see how the bounce from 0.7013 has extended to take the pair above SMA20 influenced by the positive divergence formed on histogram of MACD traditional.

-Meanwhile, RSI14 is re-attacking the value of 50.00 for the first time since the first week of January 2015.

-The positive crossover on MACD lines could be a sign that the royal pair will achieve further upside actions over upcoming sessions.

EUR/GBP Daily Chart
-There is no major resistances exist in the area between 0.7240-broken resistance turned into support- and the key resistance at 0.7400; thus, the path becomes clear towards it.

-On the other side, coming beneath 0.7150 will give us a rational reason for concern.

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