Will EURGBP- move this time to 0.8950?
EurGbP
1. Price Formation: The price has broken out from a Cup and Handle price formation on a daily chart. Previously, failed to move down from an M-formation and turned up.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21 > 200
5. Relative Strength Index (RSI): The RSI is >than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: to the bottom of the channel at 0.8950
1. Price Formation: The price has broken out from a Cup and Handle price formation on a daily chart. Previously, failed to move down from an M-formation and turned up.
2. Moving Averages: The 7-day moving average (MA) is above the 21-day MA, which is a sign indicating short-term bullish momentum.
3. 200-day Moving Average is below the Price.
4. Thus, Mas 7>21 > 200
5. Relative Strength Index (RSI): The RSI is >than 50, indicating bullish momentum and potential further upward movement.
6. Price Target: to the bottom of the channel at 0.8950
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