For the past five days, the EUR to GBP currency pair has been trading at a level of 0.85200, fluctuating between 0.8500 and 0.8550. It temporarily reached its lowest level of the year at 0.8504.

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• EUR/GBP trades between 0.8500 and 0.8550 for the fifth day, briefly touching a YTD low of 0.8504.

The pair currently trades last at 0.85200.

The previous day high was 0.8563 while the previous day low was 0.8533. The daily 38.2% Fib levels comes at 0.8552, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8545, expected to provide resistance.

According to the daily chart, the EUR/GBP currency pair remains locked in a narrow range between 0.8500 and 0.8550 for the fifth consecutive day. Despite this sideways action, the Euro (EUR) briefly dipped to a year-to-date low of 0.8504 before recovering slightly to the 0.8520 area as Wednesday’s Asian session began.

The EUR/GBP daily chat portrays the pair in sideways action, within the 0.8500/0.8550 for the fifth consecutive day, though Euro (EUR) weakness triggered a fall to crack year-to-date (YTD) lows of 0.8504 and bounced towards the 0.8520 area. Sellers could extend the cross fall once they reclaim 0.8500. In that outcome, the EUR/GBP’s next support would be last year’s August 22 low at 0.8408. Conversely, the EUR/GBP could shift upwards if it reclaims 0.8600.

In the short term, the EUR/GBP hourly chart portrays a bearish continuation, as the intersection of the 50-hour Moving Average (HMA) with the daily pivot point at 0.8522/26 would be challenging to overcome. In addition, the downslope resistance trendline passes around 0.8540. If EUR/GBP breaks above those levels, the next resistance would be the 100-HMA at 0.8533, followed by the R1 pivot at 0.8537. Contrarily, and on the path of least resistance, the EUR/GBP’s first support would be the YTD low of 0.8504. Once cleared, the next support would be the S2 pivot at 0.8494, followed by the S3 daily pivot point at 0.8475.

Technical Levels: Supports and Resistances

EURGBP currently trading at 0.852 at the time of writing. Pair opened at 0.8542 and is trading with a change of -0.26 % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8588, 50 SMA 0.8584, 100 SMA @ 0.8655 and 200 SMA @ 0.8718.

The previous day high was 0.8563 while the previous day low was 0.8533. The daily 38.2% Fib levels comes at 0.8552, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8545, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.8529, 0.8516, 0.8499
• Pivot resistance is noted at 0.8559, 0.8576, 0.8589

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