#EURGBP @ 0.84864 -imp levels: prepares to finish the week almost flat, compared to last week’s marginally down 0.06%.

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• EUR/GBP prepares to finish the week almost flat, compared to last week’s marginally down 0.06%.
• The cross-currency pair is range-bound in the 0.8400-0.8490 area, though risks are skewed to the upside.
• A EUR/GBP break of 0.8500 could put a re-test of the YTD high into play.

The pair currently trades last at 0.84864.

The previous day high was 0.8462 while the previous day low was 0.8424. The daily 38.2% Fib levels comes at 0.8438, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8447, expected to provide support.

The EUR/GBP advances to fresh weekly highs, above the 100-DMA, erasing Thursday’s losses as Wall Street finishes the week in the green, falling between 3% and 4.10%, on Fed’s Chair Powell’s remarks, on Friday. At the time of writing, the EUR/GBP is trading at 0.8481.

During the week, the cross-currency pair dropped towards its weekly low at 0.0407, below the 20-day EMA on Tuesday, though it achieved a comeback, and the pair reclaimed the 200-day EMA. Friday’s price action, broad euro strength, lifted the pair towards its weekly highs above the 0.8500 figure, but lack of impetus sent the cross towards the 50-day EMA at 0.8481.

The EUR/GBP bias is neutral-to-upwards. Through August, the pair achieved a successive series of higher highs/lows and might be closing with gains in the monthly chart, but unless the EUR/GBP breaks the 0.8500 mark, the pair will remain trading in the 0.8400 handle for a foreseeable period.

If the EUR/GBP clears the 0.8500 psychological level, their next resistance would be the July 21 high at 0.8584. Once cleared, the psychological 0.8600 will be the next supply zone, ahead of a test of the YTD high at 0.8721.

On the flip side, the EUR/GBP first support would be the 0.8400 figure. Break below will expose essential demand zones, like the August 17 daily low at 0.8386, followed by the MTD lows at 0.8339.

Technical Levels: Supports and Resistances

EURGBP currently trading at 0.8481 at the time of writing. Pair opened at 0.843 and is trading with a change of 0.68 % .

The pair is trading above its 20 Daily moving average @ 0.8428, below its 50 Daily moving average @ 0.8488 , above its 100 Daily moving average @ 0.8476 and above its 200 Daily moving average @ 0.8438

The previous day high was 0.8462 while the previous day low was 0.8424. The daily 38.2% Fib levels comes at 0.8438, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8447, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8415, 0.8401, 0.8377
• Pivot resistance is noted at 0.8453, 0.8476, 0.8491

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