EUR/GBP may rise 30 - 44 pips
BY Trading Central
|January 9, 2025Intraday: the RSI is overbought
Our pivot point is at 0.8347.
Our preference
The upside prevails as long as 0.8347 is support.
Alternative scenario
The downside breakout of 0.8347 would call for 0.8324 and 0.8310.
Comment
The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 0.8350 and 0.8334). Finally, the EUR/GBP is trading above its upper Bollinger band (standing at 0.8366).
Supports and resistances
0.8443 **
0.8429 *
0.8415 **
0.8401
0.8371 last
0.8356
0.8347 **
0.8324 *
0.8310 **
Number of asterisks represents the strength of support and resistance levels.
© 2025 Trading Central. All Rights Reserved. The information contained herein: (1) is proprietary to Trading Central and/or its content providers; (2) may not be copied or distributed; (3) is not warranted to be accurate, complete or timely; and, (4) does not constitute advice or a recommendation by TIO Markets Ltd, Trading Central or its content providers in respect of the investment in financial instruments. Neither TIO Markets Ltd nor Trading Central nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
Pricing, historical chart data and fundamental company data are provided by Morningstar Research Inc.
Technical Event® is a registered trademark of Trading Central.
Trading Central products and services are protected under U.S. Patent Nos.: 6,801,201; 7,469,226; 7,469,238; 7,835,966; and 7,853,506; and corresponding foreign patents.
Join us on social media
undefined