EUR/GBP rebound from the 50% Fibo. level support, around the 0.9085-80 region. Any further move up might confront resistance near the 0.9135-40 confluence area. Sustained weakness below the 0.9085-80 zone needed to confirm further weakness. The EUR/GBP cross staged a modest intraday bounce from the 0.9085-80 support area and refreshed daily tops during the early European session. The mentioned support marks the 50% Fibonacci level of the 0.8866-0.9292 positive up and should now act as a key pivotal point for short-term traders. Slightly oversold conditions on the 1-hourly chart seemed to be the only factor that prompted some short-covering move and pushed the cross back above the 0.9100 round-figure mark. However, the lack of any strong follow-through buying warrants some caution before placing fresh bullish bets. Hence, any subsequent move up is more likely to confront a stiff resistance and remain capped near the 0.9130-35 confluence barrier – comprising of 200-hour SMA and the 38.2% Fibo. level. That said, a sustained strength beyond will indicated that the recent corrective slide is over. The cross might then accelerate the positive move towards the 23.6% Fibo. level, around the 0.9190 region. A subsequent move back above the 0.9200 mark will be seen as a fresh trigger for bullish traders and lift the cross further towards the 0.9260 horizontal resistance. On the flip side, the 0.9085-80 region (50% Fibo. level) might continue to act as immediate support and protect the downside. Failure to defend the mentioned support might turn the cross vulnerable to prolong its retracement slide from the vicinity of the 0.9300 mark, or six-month tops. EUR/GBP 1-hourly chart Technical levels to watch 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 EUR/USD regains the 1.18 area ahead of data FX Street 2 years EUR/GBP rebound from the 50% Fibo. level support, around the 0.9085-80 region. Any further move up might confront resistance near the 0.9135-40 confluence area. Sustained weakness below the 0.9085-80 zone needed to confirm further weakness. The EUR/GBP cross staged a modest intraday bounce from the 0.9085-80 support area and refreshed daily tops during the early European session. The mentioned support marks the 50% Fibonacci level of the 0.8866-0.9292 positive up and should now act as a key pivotal point for short-term traders. Slightly oversold conditions on the 1-hourly chart seemed to be the only factor that prompted some short-covering move… 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.