The EUR/GBP is reporting moderate gains in early Europe and could re-test the 200-day exponential moving average (EMA) of 0.8857 as the sell-off from the recent high of 0.8996 is looking overdone, according to the relative strength index (RSI) on the 4-hour chart. The RSI on the hourly chart is rising from the oversold territory and the pair has cleared the descending trendline. The moving average convergence divergence (MACD) has moved above zero, confirming a bearish-to-bullish trend change on the hourly chart. The bias remains bearish as indicated by the downward sloping 5-day and 10-day EMAs and daily close below the 200-day EMA. Hourly Chart Spot Rate: 0.8847 Daily High: 0.8847 Daily Low: 0.8836 Trend: Intraday bullish Resistance R1: 0.8857 (200-day EMA) R2: 0.8881 (10-day EMA) R3: 0.8900 (psychological hurdle) Support S1: 0.8834 (previous day’s low) S2: 0.8816 (July 16 low) S3: 0.8803 (61.8% Fib R of 0.8621/0.9099) 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 Asian stocks see soft retreat as bond yields give investors cause for concern FX Street 4 years The EUR/GBP is reporting moderate gains in early Europe and could re-test the 200-day exponential moving average (EMA) of 0.8857 as the sell-off from the recent high of 0.8996 is looking overdone, according to the relative strength index (RSI) on the 4-hour chart. The RSI on the hourly chart is rising from the oversold territory and the pair has cleared the descending trendline. The moving average convergence divergence (MACD) has moved above zero, confirming a bearish-to-bullish trend change on the hourly chart. The bias remains bearish as indicated by the downward sloping 5-day and 10-day EMAs and daily close below… 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.
