Home EUR/GBP Technical Analysis: EUR/GBP finding some resistance after 4-day bull run
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EUR/GBP Technical Analysis: EUR/GBP finding some resistance after 4-day bull run

  • EUR/GBP has been trading higher throughout the week, however, this Friday EUR/GBP has been losing some strength and is set to end the day in the red.
  • The 0.8933 July 18 high is the first resistance for bulls to break above, followed by the 50 and 100-period simple moving averages a few pips above it.  
  • Failure to recapture the 0.8933 level can lead to an extension of the bearish correction towards the 0.8900 support.

EUR/GBP 15-minute chart  

Spot rate:                0.8930

Relative change:      -0.18%      
High:                       0.8960
Low:                        0.8925

Trend:                     Bullish / bearish correction

Resistance 1:         0.8933 July 18 high
Resistance 2:         0.8967 March 7 high
Resistance 3:         0.9013 November 12, 2017 high

Support 1:              0.8900 figure  
Support 2:              0.8868, 13 July high
Support 3:              0.8840 supply level
Support 4:              0.8820-0.8840 area, 200-day SMA  
Support 5:              0.8800 figure
Support 6:              0.8780 daily 50-period SMA
Support 7:              0.8764 June 8 low  

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