General overview: The pair hitting the highest high in the market. The bulls are showing their positive aggression towards the high side in the market. The bulls are testing the positive impulse in the market and advised the buyers to have their investment towards the bullish side in the market. The pair hitting the multi-highs level 1.2379 this time and we can expect the higher move further. The demand for the currency is strong and the inflation rate is higher. The UK’s cheers the vaccination camps for more improvement towards the economy. The trend is set towards the higher highs in the market. The bulls are established the bullish signals in the market. On the 30 minutes chart, we can see the pair find the breakout the level at 1.2350 markets and rise towards the high side in the market.
Technical overview: From the technical point of view we can say that market creates a strong bullish side towards the market. The trend index is towards the buy-side in the market. On the daily chart, we can see that market creates the bullish candlesticks in the market and we also find a breakout at level 1.1925. The minor lines EMA rises above the major SMA lines and creates buy signals. The pair is also above EMA lines. The pair taking the support from the moving averages and makes it step towards buy signals in the market. The indicators are also creating buy signals as RSI moves above the 50 levels creates a strong bullish side as well as MACD also rises above the zero lines. The support level of the market is 1.2329 followed 1.2299 and resistance is 1.2435 followed 1.2475.
Trade idea: buy at level 1.2378 and target will be 1.2448-1.2483 and stop loss is 1.2298.
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