Home EUR/GBP Technical Analysis: Bulls find support at daily lows – 0.9000 target still in play
FXStreet News

EUR/GBP Technical Analysis: Bulls find support at daily lows – 0.9000 target still in play

  • EUR/GBP bulls are working at keeping the main trend intact.  
  • EUR/GBP is trading in a bull channel as it found some support at the lower trendline and above 0.8940 support. The market is finding some resistance at the 50 and 100-period simple moving averages and bulls might need to create a double bottom in order to re-conquer the 0.9000 figure.  
  • A sustained bear breakout below 0.8940 would invalidate the bullish bias.  

EUR/GBP 15-minute chart

Spot rate:                0.8966

Relative change:      -0.07%      
High:                       0.9004
Low:                        0.8948

Main Trend:            Bullish

Resistance 1:         0.9000 figure
Resistance 2:         0.9032 current 2018 high
Resistance 3:         0.9100 figure

Support 1:              0.8965 supply/demand level
Support 2:              0.8940 August 14 high
Support 3:              0.8900 July 9 high
Support 4:              0.8868, 13 July high
Support 5:              0.8840 supply level

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.