“¢ The cross trimmed a part of its early gains and has now retreated back to the 0.8600 handle in reaction to the change in ECB’s rate guidance, now sees holding steady at least through this year.
“¢ Despite a modest pull-back, the fact that the cross is holding above 200-hour SMA clearly points to bearish reluctance amid reemerging Brexit uncertainties over the Irish backstop issue.
“¢ Meanwhile, technical indicators on hourly charts have been gaining positive traction but maintained their bearish bias on the daily chart, warranting some caution for bullish traders.
“¢ Hence, it would be prudent to wait for a sustained move in either direction as the focus now shifts to the ECB President Mario Draghi’s post-meeting press conference for some fresh impetus.
EUR/GBP 1-hourly chart
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EUR/GBP
Overview:
Today Last Price: 0.8601
Today Daily change: 17 pips
Today Daily change %: 0.20%
Today Daily Open: 0.8584
Trends:
Daily SMA20: 0.8685
Daily SMA50: 0.879
Daily SMA100: 0.8836
Daily SMA200: 0.8857
Levels:
Previous Daily High: 0.862
Previous Daily Low: 0.8577
Previous Weekly High: 0.8702
Previous Weekly Low: 0.8529
Previous Monthly High: 0.8842
Previous Monthly Low: 0.8529
Daily Fibonacci 38.2%: 0.8604
Daily Fibonacci 61.8%: 0.8594
Daily Pivot Point S1: 0.8567
Daily Pivot Point S2: 0.855
Daily Pivot Point S3: 0.8524
Daily Pivot Point R1: 0.8611
Daily Pivot Point R2: 0.8637
Daily Pivot Point R3: 0.8654
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