EUR/GBP 0.18% breaks above 21-EMA, hits 2-week highs of 0.8784, bias higher.
Pound tumbles on BoE Carney’s comments, EUR/GBP 0.18% pair jumped from below 0.8700 overnight to 0.8770.
BoE Governor spoke about higher rates in the future and warned about Brexit risks.
Technical studies are bullish , RSI biased higher and Stocks show bullish momentum.
We see +ve DMI crossover on -ve DMI which adds to bullish bias.
Next immediate resistance lies at 50-DMA at 0.8796. Break above targets 100-DMA at 0.8811.
On the flipside, 21-EMA at 0.8731 is strong support, retrace below will see weakness.
Support levels - 0.8732 (21-EMA), 0.8708 (5-DMA), 0.8682 (61.8% Fib)
Resistance levels - 0.8796 (50-DMA), 0.8811 (100-DMA), 0.8827 (cloud base)
Good to go long on dips around 0.8760/70, SL: 0.8730, TP: 0.88/ 0.8825
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