The EURGBP at a rate of 0.85794 could potentially experience additional losses, as the point where the 100- and 200-day Simple Moving Averages trend downward is approaching near 0.8750.
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- EUR/GBP may see further downside as the 100- and 200-day SMAs bearish crossover seems imminent at the 0.8750 area.
The pair currently trades last at 0.85794.
The previous day high was 0.8608 while the previous day low was 0.8536. The daily 38.2% Fib levels comes at 0.8563, expected to provide support. Similarly, the daily 61.8% fib level is at 0.858, expected to provide resistance.
On Monday, the EUR/GBP closed with slight gains near de 0.8580, just above the 20-day Simple Moving Average (SMA) area after bouncing from a daily low of 0.8540.
The Relative Strength Index (RSI) remains in negative territory but with a positive slope, indicating that bulls are gaining traction. The Moving Average Convergence Divergence (MACD) stands in positive territory, printing rising green bars, suggesting that the sellers are losing some steam. However, a bearish cross between the 100- and 200-day SMAs near the 0.8750 level could confirm the negative outlook for the short term and reignite selling momentum.
The 20-day SMA at 0.8578 acts as a strong support which in case of being lost, the 0.8545 and the 0.8530 area would be exposed for a retest. On the upside, the 0.8600 psychological mark stands as the nearest resistance to retake before the 0.8635 and 0.8650 areas.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.858 at the time of writing. Pair opened at 0.8567 and is trading with a change of 0.15 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8580 |
| 1 | Today Daily Change | 0.0013 |
| 2 | Today Daily Change % | 0.1500 |
| 3 | Today daily open | 0.8567 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8586, 50 SMA 0.8686, 100 SMA @ 0.8756 and 200 SMA @ 0.875.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8586 |
| 1 | Daily SMA50 | 0.8686 |
| 2 | Daily SMA100 | 0.8756 |
| 3 | Daily SMA200 | 0.8750 |
The previous day high was 0.8608 while the previous day low was 0.8536. The daily 38.2% Fib levels comes at 0.8563, expected to provide support. Similarly, the daily 61.8% fib level is at 0.858, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.8532, 0.8498, 0.846
- Pivot resistance is noted at 0.8605, 0.8643, 0.8677
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8608 |
| Previous Daily Low | 0.8536 |
| Previous Weekly High | 0.8636 |
| Previous Weekly Low | 0.8518 |
| Previous Monthly High | 0.8835 |
| Previous Monthly Low | 0.8583 |
| Daily Fibonacci 38.2% | 0.8563 |
| Daily Fibonacci 61.8% | 0.8580 |
| Daily Pivot Point S1 | 0.8532 |
| Daily Pivot Point S2 | 0.8498 |
| Daily Pivot Point S3 | 0.8460 |
| Daily Pivot Point R1 | 0.8605 |
| Daily Pivot Point R2 | 0.8643 |
| Daily Pivot Point R3 | 0.8677 |
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