EUR/GBP Price Analysis: Crosses short-term upside hurdle on the way to 100-SMA

EUR/GBP takes the bids to refresh intraday top, crosses fortnightly resistance line.
Firmer Momentum, sustained wreck of immediately hurdle directs bulls to 100-SMA.
Key Fibonacci retracement levels, month-to-month low undertaking bears.
EUR/GBP refreshes intraday low to 0.8546, up 0.12% on a day throughout early Monday.

The cross-currency pair lately pierced a downward sloping style line from September 07, extending a rebound from the month-to-month low.

Given the upbeat Momentum line favoring the damage of instant resistance, now support, EUR/GBP is prepared for similarly upside closer to every other key hurdle, particularly 100-SMA close to 0.8565.

It ought to be stated that the pair’s upside previous 0.8565 will allow it to goal for the 0.8600 threshold, comprising the early month peak.

Meanwhile, pullback strikes beneath the noted resistance-turned-support, close to 0.8538, will direct the quote to 61.8% Fibonacci retracement of August 10 to September 07 upside shut to 0.8510.

Also performing as a draw back filter is the month-to-month low of the 0.8500 psychological magnet.

To sum up, EUR/GBP is up for a north-run toward the month-to-month low however 100-SMA will assignment the bulls.


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