New bullish pattern on EURGBP pair daily chart

New bullish pattern on EURGBP pair daily chart. The major oscillators confirm the positive trend.

EUR/GBP currency pair October, 4 close was slightly higher, at 0.8884. Marked a series of 5 consecutive higher highs and the sixth consecutive positive closing. New bullish pattern on EUR/GBP pair daily chart (high2 < high1, high1 < high, low2 < low1, low1 < low, close > close1, close1 > close2), we suggest to watch today closing. The major oscillators confirm the positive trend.

EURGBP pair

View the interactive chart on ProRealTime.com

Simple Moving Average (SMA)
EURGBP quotes are above 14 day moving average (SMA value is 0.88821). The short term view remains bullish.


Support and Resistance levels
7, 15 and 30 trading days Performance. Support, Resistance and Pivot Point levels. Last updated closing price: 04/10/2017

Performance: 7 trading days= +1.33% – 15 trading days= -0.16% – 30 trading days= -3.62%
Resistance levels: R1= 0.8895 – R2= 0.8906 – R3= 0.8940
Pivot Point: 0.8872
Support levels: S1= 0.8861 – S2= 0.8838 – S3= 0.8804


Buying opportunity above 0.8902 targets minor resistance at 0.8943 and perhaps as far as strong resistance at 0.8974, where sellers could regain control. Above that level it could trigger an acceleration to the upside with the next target at 0.9023.

Selling opportunity below 0.8865 targets minor support at 0.8826 and perhaps as far as strong support at 0.8797, where buyers could get back into the market. Below that level we could expect a bearish downward movement with the next target at 0.8751.

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