EURGBP is waiting for a upside breakoutEURGBP
On political front the cable has loses some earlier gain against its counterpart Euro. Though the selling of Euro has happened due to the overbought condition on many euro pairs such is EURUSD, EURJPY, EURCAD
This pair is currently trading at the upside trend line resistance. Once this tree broken we can buy this pair up to 0.90800 which is a previous month high and the low liquidity zone where the buyers will close their buy positions and will wait for the short term bearish correction
The price is trading zone the 50,100 Exponential moving average and 200 EMA is currently acting as resistance for the bull
At 0.89600 level we can see a inverted hammer candle and a bullish engulfing candle which is a confirmation of further bullish trend
On longer time frame the price is thrust above the 50% Fibonacci retracement level. At 0.90800 the minor trend line resistance will be formed. An this is the thin volume area
0.90000 is a major psychological level will act as a resistance too
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