EUR/GBP • EUR/GBP surged after consolidating near the longer - TopicsExpress

EUR/GBP • EUR/GBP surged after consolidating near the longer term downtrend line and reached the resistance at 0.8340 (R1). A clear break above that barrier may pave the way towards the next hurdle at 0.8390 (R2), which coincides with the 38.2% retracement level of the 1st Aug. - 17th Feb. downtrend. Nonetheless, since the RSI lies within its overbought territory, ready to cross below 70, while the MACD seems to be topping, I would expect a pullback, maybe for a test near the 0.8300 (S1) area, before the bulls take advantage again. • Support: 0.8300 (S1), 0.8260 (S2), 0.8200 (S3). • Resistance: 0.8340 (R1), 0.8390 (R2), 0.8460 (R3).

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