EURGBP cross surges almost 1% on fresh fears for no-deal Brexit

Strong uptrend extends into third straight week, with today’s rally of almost 1%, being sparked by pessimistic Brexit news that deflated sterling.
Brexit trade negotiations stalled on three key points with both sides keeping their positions and not willing to compromise and unlock talks, just three weeks before the end of Brexit transition period.
On the other side, the single currency remains well supported by improved risk sentiment and upbeat data from Germany’s industrial sector, which signal that EU’s largest economy is recovering at higher that initially estimated pace from pandemic-induced recession.
Fresh bullish acceleration generated few strong positive signals as strong rally offset indecision signal from last Friday’s long-legged Doji candle.
Bulls then surged through daily cloud twist (0.9075) and cracked pivotal Fibonacci resistance at 0.9126 (61.8% retracement of 0.9291/0.8860 fall), bringing in focus October’s highs at 0.9148/61.
Close above 0.9126 pivot is needed to confirm bullish stance, as positive momentum is rising on daily chart and north-heading 10-day moving average formed two-bull-crosses (10/20 and 10/30 DMA’s) as well as 10/200DMA golden-cross, that additionally underpins the action.
Near-term bias is expected to remain with bulls as long as price action holds above daily cloud top (0.9075).

Res: 0.9148; 0.9161; 0.9189; 0.9219
Sup: 0.9100; 0.9075; 0.9027; 0.9000