EUR/GBP Gains Moderately Likely to challenge the 0,8700 Resistance

#OPINIONLEADER# #Signal#

ByLCMS Traders FX Analysis Team

 JUN 10, 2021

EUR/GBP is moving higher for almost 4 consecutive days and is currently trading at 0.8632. The intraday support levels are at 0.8612 and 0.8586. The intraday resistance levels are at 0.8644 and 0.8673.

EUR/GBP Daily Technical Levels

The recent gain is mainly attributed to the selling pressure in GBP which is trading lower against its major peers at the moment. The SMA-14 is indicating support at 0.8612 while the SMA-50 is at 0.8630. The pair is above the mid-Bollinger band, the upper and lower bands are at 0.8653 and 0.8568. The RSI is at 53 and has an upwards curve. Following the intraday and 4-hourly charts, the pair is currently ideal to buy at the following levels

Direction: Buy

Entry: 0.8610

Take Profit: 0.8660

Stop-Loss: 0.8580

Bulls require an intraday closing above 0.8660 to take the pair further higher. On the downside, an intraday closing below 0.8570 would again bring the bears back in the game.