- EUR/GBP trades a narrow range in the Asian session, finds strong support at
0.8440 (converged 5&10 DMA).
- Violation there could see next major support by cloud top at
- EUR/GBP has bounced off from major trendline support on Sept 6th
- We have evidenced formation of successive spinning top and Doji on daily
charts at lows which shows fading downside momentum.
- 20-DMA at 0.8513 in sight on the upside. Break above will confirm near-term
uptrend. Pair could then see test of 0.8691 (Aug 19 high).
- Our previous call
- Recommend holding for targets. Weakness only below 0.8440.