EUR/GBP Price Analysis: Challenges 100-HMA following the bullish breakout

EUR/GBP is extending positive factors on the 0.9000 level, benefiting from better losses in the pound when in contrast to its European peers.

Broad-based US greenback strength, in the wake of rising Treasury yields and stimulus hopes, weighs closely on most of the foremost G10 currencies on Monday.

From the near-term technical perspective, EUR/GBP has damaged thru the falling wedge pattern, confirming an upside break.

The bulls prolonged manage thereafter, as the charge pierced above the crucial resistance at 0.9028, the place the 200- hourly shifting common (HMA) and 50-HMA coincide.

However, the 100-HMA resistance at 0.9035 looks to be capping the on the spot upside. Acceptance above the latter should open in the direction of 0.9050 and beyond.

To the downside, the sample resistance now help at 0.9020 may want to avoid any pullback, under which the 21-HMA 0.9013 ought to be tested.

 

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