EUR/GBP Bullish Bounce Might Target 0.8410

Dear Traders,

Despite the downtrend, the EUR/GBP bulls are slowly taking control. H4 time frame is in retracement and that accounts for lower timeframes bullish trend.

0.8360-70 is the zone where we might expect the pair to bounce. We can see the bullish momentum and the first target is 0.8385. If the level is broken we should see an upmove continuation towards 0.8410 zone. This scenario is valid as long as the price is kept above 0.8340 zone. Buying the dips is a valid option now.

The Analysis has been done with the CAMMACD.Core and Sit Systems

 

This article was originally posted on FX Empire

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