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EURGBP, Time frame: 1D, Source: TradingViewEUR/GBP continues to carve out an ascending triangle, with a series of higher lows developing from the July bottom near 0.8450. The rising trendline remains intact and continues to support the recovery, highlighting improving demand on dips.
0.8597 Resistance Under Pressure
The pair is trading just beneath the 0.8597 resistance zone, which has repeatedly capped advances over recent weeks. Multiple tests of this level suggest buyers are becoming increasingly aggressive, while sellers continue to defend a well-defined horizontal ceiling.
200-Day EMA Adds another layer of Resistance
The 200-day EMA at 0.8618 sits just above current price and closely aligns with the resistance zone. This creates a notable resistance cluster between 0.8597 and 0.8620, making this area the key battleground for the next directional move.
Higher Lows
Unlike previous rallies, recent pullbacks have been increasingly shallow, creating a clear sequence of higher lows. This price behaviour often reflects improving buyer conviction as the market gradually compresses against resistance.
RSI Signals Constructive Momentum
The RSI is holding around 58.7, while remaining above its signal line near 57.0. Momentum is positive without being overextended, suggesting buyers retain a modest advantage as price approaches resistance.
Disclaimer: The content published above has been prepared by CFI for informational purposes only and should not be considered as investment advice. Any view expressed does not constitute a personal recommendation or solicitation to buy or sell. The information provided does not have regard to the specific investment objectives, financial situation, and needs of any specific person who may receive it, and is not held out as independent investment research and may have been acted upon by persons connected with CFI. Market data is derived from independent sources believed to be reliable, however, CFI makes no guarantee of its accuracy or completeness, and accepts no responsibility for any consequence of its use by recipients.
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