EUR/GBP Trading Above Its MA; Holding on the Upside — Market Talk

0107 GMT [Dow Jones] EUR/GBP Intraday: Continuation of the rebound. The pair is trading above its 20-period moving average and is holding on the upside. The 20-period moving average crossed above the 50-period one, which is a positive signal. The relative strength index is above its neutrality level at 50 and lacks downward momentum. As long as 0.8530 is support, the pair is likely to challenge its previous high at 0.8615. A break above this level would call for further advance toward 0.8655. Only a break below 0.8530 would turn the outlook to negative with a down target at 0.8490. [This piece contains the opinions of Trading Central and does not constitute personalized investment advice or form part of any invitation or inducement to buy or sell any security. The author has been prohibited by Trading Central from purchasing or otherwise directly or indirectly acquiring any direct or indirect beneficial ownership of any instruments or markets for which Trading Central or its affiliates issues recommendations. To read more, visit bit.ly/1MehCU9] (analysts[a]tradingcentral.com)

 
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