The euro against the British pound (EURGBP) has fallen below both the 50 and 20-day Exponential Moving Averages (EMAs), indicating a stronger pessimistic market sentiment. It is currently trading 0.14% lower than its initial price.
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- EUR/GBP slips past 50 and 20-day EMAs, reflecting increased bearish sentiment, trading 0.14% below the opening.
The pair currently trades last at 0.85826.
The previous day high was 0.8633 while the previous day low was 0.8593. The daily 38.2% Fib levels comes at 0.8608, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8617, expected to provide resistance.
The EUR/GBP dropped for the third consecutive day, extending its losses past the 50 and 20-day Exponential Moving Averages (EMAs), the last time seen each at 0.8610 and 0.8603. At the time of writing, the EUR/GBP is trading at 0.8582, below its opening price by 0.14%.
The EUR/GBP is trading sideways, slightly tilted to the downside, after prices fell below all the daily Exponential Moving Averages (EMAs), opening the door for further losses. Notably, the EUR/GBP fell to a new two-week low, and on its way down, it has broken a one-month-old support trendline drawn from the yearly lows, suggesting that sellers are gathering momentum.
If EUR/GBP achieves a daily close below 0.8600, the cross could extend its downtrend to the July 27 swing low of 0.8544 before challenging the year-to-date (YTD) low of 0.8504.
On the flip side, if EUR/GBP buyers reclaim 0.8600, the first resistance levels would be the 0.8601/10 area, followed by the 100-day EMA at 0.8646.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8584 at the time of writing. Pair opened at 0.8596 and is trading with a change of -0.14 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8584 |
| 1 | Today Daily Change | -0.0012 |
| 2 | Today Daily Change % | -0.1400 |
| 3 | Today daily open | 0.8596 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8611, 50 SMA 0.8588, 100 SMA @ 0.8667 and 200 SMA @ 0.8723.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8611 |
| 1 | Daily SMA50 | 0.8588 |
| 2 | Daily SMA100 | 0.8667 |
| 3 | Daily SMA200 | 0.8723 |
The previous day high was 0.8633 while the previous day low was 0.8593. The daily 38.2% Fib levels comes at 0.8608, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.8617, expected to provide resistance.
Note the levels of interest below:
- Pivot support is noted at 0.8582, 0.8567, 0.8542
- Pivot resistance is noted at 0.8622, 0.8647, 0.8662
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8633 |
| Previous Daily Low | 0.8593 |
| Previous Weekly High | 0.8669 |
| Previous Weekly Low | 0.8590 |
| Previous Monthly High | 0.8701 |
| Previous Monthly Low | 0.8504 |
| Daily Fibonacci 38.2% | 0.8608 |
| Daily Fibonacci 61.8% | 0.8617 |
| Daily Pivot Point S1 | 0.8582 |
| Daily Pivot Point S2 | 0.8567 |
| Daily Pivot Point S3 | 0.8542 |
| Daily Pivot Point R1 | 0.8622 |
| Daily Pivot Point R2 | 0.8647 |
| Daily Pivot Point R3 | 0.8662 |
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