EUR/GBP resumes rising. - Technical Analysis - 07-01-2016

 

EUR/GBP resumed rising in the short-term trading, with the continuing positive pressure from the simple moving average for the last 50 days period, and a forming of a positive divergence in the Stochastic indicator as shown below the attached chart. The pair thereafter is extending its last winning streak in the short term,  readying to breach the resistance of 0.7400, to get rid of its negative pressure and to open the door for more gains.

Therefore we expect the pair to rise farther, as long as the resistance of 0.7400 if breached, targeting directly afterwards the crucial ressitance of 0.7480.