EUR/GBP long setup : FxWirePrio | January 30, 2018

EUR/GBP 0.31% edges higher for the 4th successive session, tests 21-EMA ar 0.8814, breakout to see further upside.

Indicators on intraday charts have turned bullish . We see scope for test of 200-DMA 0.00% at 0.8846.

Violation at 200-DMA 0.00% will take the pair higher. While on the downside, break below trendline at 0.8785 will see resumption of downside.

Markets focus on EZ GDP, German CPI -0.12% data due later today for further impetus.

Analysts are forecasting 0.6% EU GDP growth over the previous quarter and a 2.6% increase over the same period last year.

Consensus forecast for German CPI -0.12% calls for a 1.6% increase over the previous annual period.

Support levels - 0.88, 0.8772 (5-DMA), 0.8682 (61.8% Fib retrace of 0.8297 to 0.9306 rally)

Resistance levels - 0.8814 (21-EMA), 0.8826 (20-DMA), 0.8846 ( 200-DMA 0.00% )

Good to go long on breakout above 21-EMA, SL: 0.8770, TP: 0.8845/ 0.89/ 0.8920