The Euro to British Pound exchange rate, with a value of 0.85416, has bounced back from its lowest point this year, which was 0.8492. Currently, it is trading at 0.8542, representing a gain of 0.28%. However, it remains below important moving averages.
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- EUR/GBP rebounds from a YTD low of 0.8492 to trade at 0.8542, gaining 0.28%, but remains below crucial moving averages.
The pair currently trades last at 0.85416.
The previous day high was 0.8546 while the previous day low was 0.8514. The daily 38.2% Fib levels comes at 0.8526, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8533, expected to provide support.
EUR/GBP currency pair is showing a neutral to downward bias as it hovers below both the 50 and 200-day Moving Averages (DMAs), according to the daily chart. Despite hitting a new year-to-date low of 0.8492, the pair saw buyers step in to reclaim the 0.8500 level, sparking a modest recovery towards the current exchange rate at around 0.8542, for a gain of 0.28%.
The EUR/GBP daily chart portrays the pair as neutral to downward biased, with the EUR/GBP standing below the 50 and 200-day Moving Averages (DMAs). It should be noted the EUR/GBP printed a new year-to-date (YTD) low of 0.8492, but buyers moved in and reclaimed the 0.8500 figure, spurring a recovery toward the 0.8540 area.
From an intraday perspective, the EUR/GBP hourly chart is neutral-biased, but it could turn upwards if the EUR/GBP achieves a daily close above the August 22 daily high of 0.8545. Once done, the EUR/GBP could test the 200-hour Moving Average (HMA) at 0.8561, followed by the current week’s high of 0.8565. A breach of the latter and the EUR/GBP could test the 0.8600.
Otherwise, if EUR/GBP registers a daily close below 0.8545, sellers could eye a test of the 0.8500 mark. Further downside is expected below that level.
Technical Levels: Supports and Resistances
EURGBP currently trading at 0.8539 at the time of writing. Pair opened at 0.8518 and is trading with a change of 0.25 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.8539 |
| 1 | Today Daily Change | 0.0021 |
| 2 | Today Daily Change % | 0.2500 |
| 3 | Today daily open | 0.8518 |
The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.8586, 50 SMA 0.8583, 100 SMA @ 0.8653 and 200 SMA @ 0.8717.
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.8586 |
| 1 | Daily SMA50 | 0.8583 |
| 2 | Daily SMA100 | 0.8653 |
| 3 | Daily SMA200 | 0.8717 |
The previous day high was 0.8546 while the previous day low was 0.8514. The daily 38.2% Fib levels comes at 0.8526, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8533, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.8506, 0.8494, 0.8474
- Pivot resistance is noted at 0.8538, 0.8558, 0.857
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.8546 |
| Previous Daily Low | 0.8514 |
| Previous Weekly High | 0.8633 |
| Previous Weekly Low | 0.8524 |
| Previous Monthly High | 0.8701 |
| Previous Monthly Low | 0.8504 |
| Daily Fibonacci 38.2% | 0.8526 |
| Daily Fibonacci 61.8% | 0.8533 |
| Daily Pivot Point S1 | 0.8506 |
| Daily Pivot Point S2 | 0.8494 |
| Daily Pivot Point S3 | 0.8474 |
| Daily Pivot Point R1 | 0.8538 |
| Daily Pivot Point R2 | 0.8558 |
| Daily Pivot Point R3 | 0.8570 |
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