“¢ Over the past two weeks or so, the cross has been trending higher and is currently placed at a resistance marked by the top end of an upward sloping channel.
“¢ The mentioned hurdle coincides with 61.8% Fibonacci retracement level of the 0.8996-0.8723 recent downfall and is likely to hinder any follow-through up-move.
“¢ Technical indicators on hourly chart hold in bullish territory and have also started gaining positive momentum on the daily chart, supporting prospects for additional gains.
“¢ Traders, however, are likely to wait for a convincing break through the mentioned confluence resistance before positioning for any further near-term appreciating move.
EUR/GBP 4-hourly chart
-636761373659579981.png)
EUR/GBP
Overview:
Last Price: 0.888
Daily change: 6.0 pips
Daily change: 0.0676%
Daily Open: 0.8874
Trends:
Daily SMA20: 0.8817
Daily SMA50: 0.8901
Daily SMA100: 0.8882
Daily SMA200: 0.8836
Levels:
Daily High: 0.8884
Daily Low: 0.8832
Weekly High: 0.8836
Weekly Low: 0.8753
Monthly High: 0.9054
Monthly Low: 0.8848
Daily Fibonacci 38.2%: 0.8864
Daily Fibonacci 61.8%: 0.8852
Daily Pivot Point S1: 0.8842
Daily Pivot Point S2: 0.881
Daily Pivot Point S3: 0.8789
Daily Pivot Point R1: 0.8895
Daily Pivot Point R2: 0.8916
Daily Pivot Point R3: 0.8948
Share
