The EURGBP currency pair shows increased demand and is getting closer to the significant level of 0.8600.
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- EUR/GBP picks up bids and approaches the 0.8600 round mark.
The pair currently trades last at 0.86014.
The previous day high was 0.8598 while the previous day low was 0.857. The daily 38.2% Fib levels comes at 0.8587, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8581, expected to provide support.
The EUR/GBP pair navigates to the north above 0.8590 and challenges the 0.8600 round mark heading into Tuesday’s European session. According to the daily chart, EUR/GBP holds above the 50- and 100-day Exponential Moving Averages (EMA), implying the path of least resistance for the EUR/GBP is to the upside.
That being said, any decisive follow-through buying past 0.8600 will see a rally to 0.8615 (50-day EMA). Further north, the cross will challenge the next hurdle at 0.8635, representing the upper boundary of the Bollinger Band. The additional upside filter to watch is 0.8670 (100-day EMA).
On the downside, EUR/GBP will meet an initial support level of 0.8550 (Low Dec 1, 2022) en route to 0.8515 (the lower limit of the Bollinger Band). The breach of the latter would expose to 0.8500, the intersection of the psychological round mark and a high of Aug 19, 2022. Some follow-through selling below the mentioned level would fuel a drop towards 0.8415 (Low of July 13, 2022).
The Relative Strength Index (RSI) stands flat above its midline, supporting EUR/GBP buyers for now.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8596 at the time of writing. Pair opened at 0.8594 and is trading with a change of 0.02 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8596 |
| 1 | Today Daily Change | 0.0002 |
| 2 | Today Daily Change % | 0.0200 |
| 3 | Today daily open | 0.8594 |
The pair is trading above its 20 Daily moving average @ 0.8574, below its 50 Daily moving average @ 0.8611 , below its 100 Daily moving average @ 0.871 and below its 200 Daily moving average @ 0.8731
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8574 |
| 1 | Daily SMA50 | 0.8611 |
| 2 | Daily SMA100 | 0.8710 |
| 3 | Daily SMA200 | 0.8731 |
The previous day high was 0.8598 while the previous day low was 0.857. The daily 38.2% Fib levels comes at 0.8587, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8581, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8577, 0.8559, 0.8548
- Pivot resistance is noted at 0.8605, 0.8616, 0.8634
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8598 |
| Previous Daily Low | 0.8570 |
| Previous Weekly High | 0.8584 |
| Previous Weekly Low | 0.8504 |
| Previous Monthly High | 0.8658 |
| Previous Monthly Low | 0.8518 |
| Daily Fibonacci 38.2% | 0.8587 |
| Daily Fibonacci 61.8% | 0.8581 |
| Daily Pivot Point S1 | 0.8577 |
| Daily Pivot Point S2 | 0.8559 |
| Daily Pivot Point S3 | 0.8548 |
| Daily Pivot Point R1 | 0.8605 |
| Daily Pivot Point R2 | 0.8616 |
| Daily Pivot Point R3 | 0.8634 |
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