EUR/GBP is defending the 50-day moving average support of 0.9044. The 50-day MA reversed pullback in July and helped the pair carve out a higher high. EUR/GBP’s sell-off from the Aug. 12 high of 0.9324 seems to have run out of steam near the widely-followed 50-day moving average of 0.9044 in the last 12 hours. The average worked as strong support in July. For instance, the pullback from the July 17 high of 0.9051 stalled around the 50-day MA support of 0.8912 on July 25 and the pair picked up a bid on the following day and rose above 0.8912 on July 29. Put simply, the 50-day MA reversed pullback in July. So, if the 50-day MA continues to hold during the day ahead, technical buyers will likely step in, lifting the pair higher to 0.91. The short-term outlook, however, would turn bullish only if prices violate the bearish lower high of 0.9184 created on Aug. 20. A daily close below 50-day MA will likely invite stronger selling pressure. Daily chart Trend: Neutral Pivot points 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 RBI answerable to crypto firms within two weeks FX Street 4 years EUR/GBP is defending the 50-day moving average support of 0.9044. The 50-day MA reversed pullback in July and helped the pair carve out a higher high. EUR/GBP's sell-off from the Aug. 12 high of 0.9324 seems to have run out of steam near the widely-followed 50-day moving average of 0.9044 in the last 12 hours. The average worked as strong support in July. For instance, the pullback from the July 17 high of 0.9051 stalled around the 50-day MA support of 0.8912 on July 25 and the pair picked up a bid on the following day and rose above 0.8912… 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.
