EURGBP with a sideways structure at the H1 chart

The EURGBP is now trading in sideways but still is bullish, because is above the 200 SMA and the daily pivot point level of 0.7365.

In the upside road, the nearest resistance is located at the 0.7389 level. If the EURGBP does a breakout of that zone, it would be expected to reach the level of 0.7407 in the very short term.

By the way, we cannot talk about counter-trend ideas, as the 200 SMA is still bullish and the bullish structure is strong. The MACD indicator is at positive territory.

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