EUR/GBP Is in a Price Surge, Approaches Level 0.9150

Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400

EUR/GBP Price Long-term Trend: Bullish
The pound is in a strong uptrend. It has broken the previous resistance levels and it is approaching the high of level 0.9150. The pair is likely to face resistance at level 0.9200.

Daily Chart Indicators Reading:
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is at level 62 of the Relative Strength Index period 14. The pound is above the centerline 50 and it is in the uptrend zone.

EUR/GBP Medium-term Trend: Bullish
On the 4-hour chart, the EUR/GBP pair is on an upward move. On December 2 uptrend, a retraced candle body tested the 50% Fibonacci retracement level. This retracement indicates that the pound will rise to level 2.0 Fibonacci extension level. That is the high of 0.9237.

4-hour Chart Indicators Reading
The 50-day SMA and 21-day SMA are sloping upward. The pair is above the 80% range of the daily stochastic. It indicates that the Pound is in a bullish momentum. The pair is in the overbought region of the market.

General Outlook for EUR/GBP
The EUR/GBP pair has been rising for the past 48 hours. The uptrend is likely to continue to level 0.9200. Meanwhile, the Fibonacci tool is indicating that the pound will reach a high of 0.9237


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