EUR/GBP Potential Upside Move

Nenad Kerkez

The EUR/GBP is has a potential to break the range and proceed to the upside if we see a rejection off POC. POC comes within 0.8510-15 zone ( V shape, DPP, EMA89, trend line). If we don’t see a retracement to POC , pay attention to H1 close above descending trend line. The pair could reach 0.8550, 0.8575 and 0.8615 if there is a H1 momentum or 4h close above 0.8575. Additionally the pair rejected slightly above the bullish order block that is located just above L3 support. This further supports a bullish bias for this pair.

EURGBP Hourly Chart

EURGBP Hourly Chart

Source: admiralmarkets.com

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