#EURGBP @ 0.84919 -imp levels: is set to finish the week with gains of 0.49%.

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• EUR/GBP is set to finish the week with gains of 0.49%.
• Euro buyers stepped in around weekly lows below 0.8400, under the 20, 50, and 200-DMAs.
• A daily close above 0.8500 might open the door for a re-test of 0.8600.

The pair currently trades last at 0.84919.

The previous day high was 0.8467 while the previous day low was 0.8425. The daily 38.2% Fib levels comes at 0.8451, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8441, expected to provide support.

The EUR/GBP extended its rally to three consecutive days, breaking on its way north the 100-day EMA, though it struggled to get above the 50-day EMA after reaching a daily high at 0.8511. At the time of writing, the EUR/GBP is trading at 0.8493, above its opening price by 0.50%.

From a daily chart perspective, the EUR/GBP shifted from neutral-downwards to neutral. In the last week, broad euro weakness tumbled the pair from current price levels towards 0.8400. However, EUR buyers stepped in around weekly lows at around 0.8386 and sent the cross-currency rallying toward the 0.8500 figure.

Worth noting that during the last three days, the EUR/GBP rally sparked a jump in the Relative Strength Index (RSI), a sign that momentum is on the side of buyers. Additionally, the break of a one-month-old downslope trendline around 0.8450 exacerbated a rally towards today’s high at 0.8511. So a break above the 0.8500 mark is on the cards.

Therefore, the EUR/GBP first resistance will be the confluence of the 50-day EMA at 0.8499 and the 0.8500 figure. Once cleared, the next stop will be Friday’s high at 0.8511, which, once broken, would aim towards a two-month-old downslope trendline around 0.8550 before climbing to the July 21 high at 0.8584.

EUR/GBP Daily chart

Technical Levels: Supports and Resistances

EURGBP currently trading at 0.8493 at the time of writing. Pair opened at 0.8459 and is trading with a change of 0.39 % .

The pair is trading above its 20 Daily moving average @ 0.8425, below its 50 Daily moving average @ 0.8502 , above its 100 Daily moving average @ 0.8472 and above its 200 Daily moving average @ 0.8438

The previous day high was 0.8467 while the previous day low was 0.8425. The daily 38.2% Fib levels comes at 0.8451, expected to provide support. Similarly, the daily 61.8% fib level is at 0.8441, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.8434, 0.8408, 0.8392
• Pivot resistance is noted at 0.8475, 0.8492, 0.8517

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