Home EUR/GBP Technical Analysis: EUR/GBP bulls at daily highs near 0.8840 level
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EUR/GBP Technical Analysis: EUR/GBP bulls at daily highs near 0.8840 level

  • EUR/GBP bulls are trying to breakout above 0.8840 resistance.
  • EUR/GBP tight trading range price action is persisting once again this Monday as EUR/GBP is supported by the 200-day period simple moving average at the 0.8820 level.
  • However, the buy and sell forces at work are very much in equilibrium and the directionality of the currency cross remains close to 50/50 at this stage.  

EUR/GBP 15-minute chart  

Spot rate:                0.8841

Relative change:     0.14%      
High:                       0.8844
Low:                        0.8816

Trend:                     Neutral

Resistance 1:         0.8840 supply level
Resistance 2:         0.8864-0.8870, weekly 50-period SMA and current weekly high
Resistance 3:         0.8900 figure  
Resistance 4:         0.8967 March 7 high

Support 1:              0.8820-0.8840 area, 200-day SMA  
Support 2:              0.8800 figure
Support 3:              0.8780 daily 50-period SMA
Support 4:              0.8764 June 8 low  

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