The EURGBP pair, currently trading at 0.85754, is moving in a sideways pattern with a slight downward tendency. It is crucial to note that a significant level of support can be found at 0.8504.
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- EUR/GBP consolidates within a tilted downward bias, with key support at 0.8504.
The pair currently trades last at 0.85754.
The previous day high was 0.8575 while the previous day low was 0.8535. The daily 38.2% Fib levels comes at 0.855, expected to provide support. Similarly, the daily 61.8% fib level is at 0.856, expected to provide support.
EUR/GBP reverses Thursday’s losses and is set to print weekly gains of 0.40% after Pound Sterling (GBP) bulls emerged yesterday, trimming some of its Wednesday losses. Nevertheless, selling pressure waned, and the EUR/GBP sits above a technical support level. At the time of writing, the EUR/GBP exchanges hands at 0.8573, up 0.32%.
The EUR/GBP daily chart portrays the pair in consolidation, with a downward bias, which could extend if sellers drag prices past the year-to-date (YTD) low of 0.8504. In that event, the next support would be the 0.8450 psychological level before the EUR/GBP dives towards the August 24 swing low of 0.8408.
Conversely, the EUR/GBP could threaten to turn bullish, above the 50-day Exponential Moving Average (EMA) at 0.8616, which would be tested once the Eur/GBP passes the 0.8600 mark. A breach of the latter will expose the June 28 swing high at 0.8658, ahead of the 100-day EMA a 0.8668, followed by the 200-day EMA at 0.8681.
Oscillator-wise, the Relative Strength Index (RSI) is at the brisk of turning bullish, which could exacerbate the EUR bulls’ reaction. The three-day Rate of Change (RoC) portrays the cross as having an upward biased.
Hence, the EUR/GBP could be ready for a bullish resumption in the near term.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8575 at the time of writing. Pair opened at 0.8546 and is trading with a change of 0.34 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8575 |
| 1 | Today Daily Change | 0.0029 |
| 2 | Today Daily Change % | 0.3400 |
| 3 | Today daily open | 0.8546 |
The pair is trading above its 20 Daily moving average @ 0.8569, below its 50 Daily moving average @ 0.8617 , below its 100 Daily moving average @ 0.8715 and below its 200 Daily moving average @ 0.8733
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8569 |
| 1 | Daily SMA50 | 0.8617 |
| 2 | Daily SMA100 | 0.8715 |
| 3 | Daily SMA200 | 0.8733 |
The previous day high was 0.8575 while the previous day low was 0.8535. The daily 38.2% Fib levels comes at 0.855, expected to provide support. Similarly, the daily 61.8% fib level is at 0.856, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8529, 0.8512, 0.849
- Pivot resistance is noted at 0.8569, 0.8592, 0.8609
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8575 |
| Previous Daily Low | 0.8535 |
| Previous Weekly High | 0.8606 |
| Previous Weekly Low | 0.8521 |
| Previous Monthly High | 0.8658 |
| Previous Monthly Low | 0.8518 |
| Daily Fibonacci 38.2% | 0.8550 |
| Daily Fibonacci 61.8% | 0.8560 |
| Daily Pivot Point S1 | 0.8529 |
| Daily Pivot Point S2 | 0.8512 |
| Daily Pivot Point S3 | 0.8490 |
| Daily Pivot Point R1 | 0.8569 |
| Daily Pivot Point R2 | 0.8592 |
| Daily Pivot Point R3 | 0.8609 |
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