EUR/GBP is again defending the 200-day average support. A move above the April 7 high is needed to confirm a bullish reversal. EUR/GBP is currently trading at 0.8768, representing a 0.10% gain on the day, having defended the 200-day average support of 0.8754 early Thursday, Sellers have failed to keep the pair under the 200-day average three times in the last four trading days. The repeated bear failure at the long-term average support has neutralized the immediate bearish setup. The bias would turn bullish if the pair finds acceptance above 0.8864 (April 7 high). That would confirm a minor double bottom breakout and open the doors to 0.8975 (target as per the measured move method). Alternatively, a convincing move under the 200-day average at 0.8754 would imply a resumption of the decline from the March 19 high of 0.95 and could cause more sellers to join the market. That will likely yield a drop to the 50-day average at 0.8707. Daily chart Trend: Neutral Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Gold Price Analysis: BTG/USD bulls remain in control but retreat from the $10 psychological level FX Street 2 years EUR/GBP is again defending the 200-day average support. A move above the April 7 high is needed to confirm a bullish reversal. EUR/GBP is currently trading at 0.8768, representing a 0.10% gain on the day, having defended the 200-day average support of 0.8754 early Thursday, Sellers have failed to keep the pair under the 200-day average three times in the last four trading days. The repeated bear failure at the long-term average support has neutralized the immediate bearish setup. The bias would turn bullish if the pair finds acceptance above 0.8864 (April 7 high). That would confirm a minor double… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
