It can be clearly seen that EUR/GBP has retested 0.85424 levels forming a long wick candle rejection on the 4H time frame continuously forming higher highs and higher lows. A strong uptrend is supported by the Golden crossover of EMA 50 and EMA 200. RSI being above 50 also showing buying signals however MACD is still in its bearish zone. Even on the daily time frame a strong bullish trend is observed supported by bullish MACD and RSI signals. The pair has also taken support from its 200 EMA on the day chart and still trading above it. Considering all the patterns furter level of  0.86695 can be expected to be touched by EUR/GBP

As the pair has already given the retest at 0.85424 levels, the trend is clearly bullish supported by golden EMA crossover a long entry can be made at the current price level on 4H time frame with a potential target around 0.86695 levels

EUR/GBP

Aug 24 2021

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