EURGBP provides positive signal – Analysis – 5-12-2018

The provided positive signal recently by rallying above the minor bearish channel’s resistance at 0.8910 as appears on the chart, while the price needs to hold above this level to form good support against the bullish attempts followed by starting to target new positive levels that might start at 0.8980 followed by reaching 0.9035.

Stochastic reach to the overbought areas supports the bullish attempts by providing new positive momentum to increase the chances of the price stability above the current support and start recording the suggested positive targets.

Expected trading range for today is between 0.8900 and 0.9080

Expected trend for today: Bullish