The EURGBP pair, currently at 0.86018, is still maintaining a neutral to downward outlook. It is facing significant resistance around the 0.8650/75 level, which could impede buyers from pushing the price towards 0.8700.

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• EUR/GBP remains neutral to downward biased, with strong resistance at around 0.8650/75, potentially hindering buyers’ attempts to reach 0.8700.

The pair currently trades last at 0.86018.

The previous day high was 0.8607 while the previous day low was 0.855. The daily 38.2% Fib levels comes at 0.8585, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8572, expected to provide support.

The EUR/GBP extends its gains to two consecutive days but faces solid resistance at around 0.8630, with the EUR/GBP pair dropping below the 50-day Exponential Moving Average (EMA) at 0.8609. At the time of writing, the EUR/GBP exchanges hands at 0.8607, gaining 0.12% after reaching a low of 0.8584.

The EUR/GBP daily chart portrays the pair as neutral to downward biased, despite the recent lower low being above the year-to-date (YTD) low of 0.8504 at 0.8544 but strong resistance at 0.8650/75, which could cap buyers’ attempts to reach the 0.8700 figure in the near term.

If EUR/GBP breaks above 0.8675, the next supply zone would be 0.8700. A breach of the latter will expose a seven-month-old downslope resistance trendline at around 0.8730/50, followed by a rally to 0.8800.

On the other hand, if EUR/GBP prints a daily close below the 50-day EMA at 0.8609, that could open the door for a break below the 0.8600 mark. The following support would be the 20-day EMA at 0.8689, followed by the last week’s low of 0.8544, ahead of the YTD low of 0.8504.

Oscillator-wise, the Relative Strength Index (RSI) turned bullish, while the three-day Rate of Change (RoC) suggests buyers are entering the market. However, they must reclaim solid resistance levels if they would like to extend their gains toward the 0.8700 figure.

Technical Levels: Supports and Resistances

EURGBP currently trading at 0.8605 at the time of writing. Pair opened at 0.8598 and is trading with a change of 0.08 % .

The pair is trading above its 20 Daily moving average @ 0.8582, above its 50 Daily moving average @ 0.8592 , below its 100 Daily moving average @ 0.8683 and below its 200 Daily moving average @ 0.8725

The previous day high was 0.8607 while the previous day low was 0.855. The daily 38.2% Fib levels comes at 0.8585, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8572, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8563, 0.8529, 0.8507
• Pivot resistance is noted at 0.8619, 0.8641, 0.8676

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