Before attempting to reach the 0.8600 level, #EURGBP is currently testing its 20-day EMA at a rate of 0.85954.
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- EUR/GBP tests 20-day EMA ahead of challenging the 0.8600 figure.
The pair currently trades last at 0.85954.
The previous day high was 0.8581 while the previous day low was 0.8527. The daily 38.2% Fib levels comes at 0.856, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8548, expected to provide support.
EUR/GBP rallies on Wednesday, after the release of inflation in the UK, spurred a knee-jerk reaction, with most Pound Sterling (GBP) Currency pairs gaining to the detriment of the GBP. At the time of writing, the EUR/GBP is trading at 0.8597, above its opening price by 0.52%, after hitting a low of 0.8524.
From a daily chart perspective, the EUR/GBP is downward biased, though testing the 20-day Exponential Moving Average (EMA) at 0.8595, which, if breached, will put the 0.8600 figure for grabs. It should be said; in the near term, the EUR/GBP bias is neutral to slightly upward, as the Relative Strength Index (RSI) indicator aims up, about to turn bullish. Moreover, the three-day Rate of Change (RoC) is the largest since March 23.
If the EUR/GBP surpasses those levels, the next stop would be the 50-day EMA at 0.8664. Upside risks lie at the confluence of the 200 and the 100-day EMAs, at 0.8702 and 0.8708, respectively. However, if EUR/GBP resumes its downtrend, the first support would be the June 20 daily high at 0.8581, followed by the psychological 0.8550 area. Once broken, the EUR/GBP’s next support would be the year-to-date (YTD) low of 0.8518.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8595 at the time of writing. Pair opened at 0.8554 and is trading with a change of 0.48 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8595 |
| 1 | Today Daily Change | 0.0041 |
| 2 | Today Daily Change % | 0.4800 |
| 3 | Today daily open | 0.8554 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8602, 50 SMA 0.87, 100 SMA @ 0.8765 and 200 SMA @ 0.8752.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8602 |
| 1 | Daily SMA50 | 0.8700 |
| 2 | Daily SMA100 | 0.8765 |
| 3 | Daily SMA200 | 0.8752 |
The previous day high was 0.8581 while the previous day low was 0.8527. The daily 38.2% Fib levels comes at 0.856, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8548, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8527, 0.85, 0.8473
- Pivot resistance is noted at 0.8581, 0.8608, 0.8635
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8581 |
| Previous Daily Low | 0.8527 |
| Previous Weekly High | 0.8613 |
| Previous Weekly Low | 0.8522 |
| Previous Monthly High | 0.8835 |
| Previous Monthly Low | 0.8583 |
| Daily Fibonacci 38.2% | 0.8560 |
| Daily Fibonacci 61.8% | 0.8548 |
| Daily Pivot Point S1 | 0.8527 |
| Daily Pivot Point S2 | 0.8500 |
| Daily Pivot Point S3 | 0.8473 |
| Daily Pivot Point R1 | 0.8581 |
| Daily Pivot Point R2 | 0.8608 |
| Daily Pivot Point R3 | 0.8635 |
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