- The EUR/GBP pair is teasing a double top breakdown – break below the neckline of 0.8952 – having breached the rising trendline in favor of the bears, as seen in the 4-hour chart below.
- A double top breakdown, if confirmed, would open the doors to 0.8817 (target as per the measured move method). On the way lower, the pair may encounter support at 0.89.
- The prospects of double top breakdown would weaken sharply if the pair retakes the rising trendline.
4-hour chart
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Trend: Bearish
EUR/GBP
Overview:
Today Last Price: 0.896
Today Daily change: 8.0 pips
Today Daily change %: 0.0894%
Today Daily Open: 0.8952
Trends:
Previous Daily SMA20: 0.9002
Previous Daily SMA50: 0.8904
Previous Daily SMA100: 0.8902
Previous Daily SMA200: 0.8856
Levels:
Previous Daily High: 0.9032
Previous Daily Low: 0.8943
Previous Weekly High: 0.9119
Previous Weekly Low: 0.8927
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Previous Daily Fibonacci 38.2%: 0.8977
Previous Daily Fibonacci 61.8%: 0.8998
Previous Daily Pivot Point S1: 0.8919
Previous Daily Pivot Point S2: 0.8886
Previous Daily Pivot Point S3: 0.883
Previous Daily Pivot Point R1: 0.9009
Previous Daily Pivot Point R2: 0.9065
Previous Daily Pivot Point R3: 0.9098
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