The currency pair EURGBP, currently trading at 0.85706, experiences a notable increase from its lowest point this year, rising by 70 pips and gaining 0.72%. This surge is driven by the upward movement of EUR/USD.
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- EUR/GBP sees a significant bounce from YTD lows, climbing 70 pips and gaining 0.72%, spurred by rising EUR/USD.
The pair currently trades last at 0.85706.
The previous day high was 0.8561 while the previous day low was 0.8504. The daily 38.2% Fib levels comes at 0.8526, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8539, expected to provide support.
EUR/GBP jumps from year-to-date (YTD) lows of 0.8504, climbs 70 pips, and gains 0.72% on Wednesday, underpinned by the rise of the EUR/USD pair. The EUR/GBP is exchanging hands at 0.8571 after hitting a daily low of 0.8505.
After diving to a new YTD low of 0.8504, the EUR/GBP has risen sharply toward the 20-day Exponential Moving Average (EMA) at 0.8571. During the last couple of days, EUR/GBP’s price action formed a bullish engulfing candlestick pattern, suggesting further upside is expected; nevertheless, a daily close above the latter is needed to keep bulls’ hopes alive.
The EUR/GBP first supply zone to test would be the 0.8600 mark. Once cleared, the next stop will be the 50-day EMA at 0.8621, followed by the June 28 swing high at 0.8658. A breach of the latter will shift the cross-pair bias to neutral and expose key resistance levels. The next resistance will be the 200-day EMA at 0.8684, ahead of testing at 0.8700.
Notably, the Relative Strength Index (RSI) is about to turn bullish, while the three-day Rate of Change (RoC) depicts buyers gathering momentum. That said, the EUR/GBP is upward in the near term.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8572 at the time of writing. Pair opened at 0.8512 and is trading with a change of 0.7 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8572 |
| 1 | Today Daily Change | 0.0060 |
| 2 | Today Daily Change % | 0.7000 |
| 3 | Today daily open | 0.8512 |
The pair is trading above its 20 Daily moving average @ 0.8569, below its 50 Daily moving average @ 0.8626 , below its 100 Daily moving average @ 0.872 and below its 200 Daily moving average @ 0.8735
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8569 |
| 1 | Daily SMA50 | 0.8626 |
| 2 | Daily SMA100 | 0.8720 |
| 3 | Daily SMA200 | 0.8735 |
The previous day high was 0.8561 while the previous day low was 0.8504. The daily 38.2% Fib levels comes at 0.8526, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8539, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.849, 0.8469, 0.8433
- Pivot resistance is noted at 0.8548, 0.8583, 0.8605
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8561 |
| Previous Daily Low | 0.8504 |
| Previous Weekly High | 0.8606 |
| Previous Weekly Low | 0.8521 |
| Previous Monthly High | 0.8658 |
| Previous Monthly Low | 0.8518 |
| Daily Fibonacci 38.2% | 0.8526 |
| Daily Fibonacci 61.8% | 0.8539 |
| Daily Pivot Point S1 | 0.8490 |
| Daily Pivot Point S2 | 0.8469 |
| Daily Pivot Point S3 | 0.8433 |
| Daily Pivot Point R1 | 0.8548 |
| Daily Pivot Point R2 | 0.8583 |
| Daily Pivot Point R3 | 0.8605 |
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