EURGBP 0.7401 – bullish – Bullish weekly reversal points higher
EURGBP reversed strongly off the .7195 low (September 22, 2015) to test the .7421 range high (August 24, 2105) and the 50 week moving average currently at .7402. Bullish momentum suggests there is scope for further upside. A clean break through .7421 would confirm a higher base over .7195 and accelerate gains towards .7482 (May 4, 2015 high) near 50% of the .8038/.6930f fall.
The .7195 area should support dips medium term.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
EURGBP reversed strongly off the .7195 low (September 22, 2015) to test the .7421 range high (August 24, 2105) and the 50 week moving average currently at .7402. Bullish momentum suggests there is scope for further upside. A clean break through .7421 would confirm a higher base over .7195 and accelerate gains towards .7482 (May 4, 2015 high) near 50% of the .8038/.6930f fall.
The .7195 area should support dips medium term.
Outlook:
Intraday: bullish
Daily: bullish
Weekly: neutral
