EUR/GBP Technical Analysis: EUR/GBP pulling back near 0.8915 level

0
  • EUR/GBP tried to breakout above the 0.8933 resistance but found sellers which drove the currency cross back near the daily open and below the 50 and 100-period simple moving average. 
  • EUR/GBP bulls would likely need to keep the market above the 0.8900 level if they want to keep the bullish momentum initiated on Monday. 
  • The main objective for bulls is to breakout above 0.8957 July 20 high while bears want to break below 0.8900 to reach 0.8868, 13 July high.

EUR/GBP 15-minute chart

Spot rate:                0.8916

Relative change:     0.03%     
High:                       0.8937
Low:                        0.8906

Trend:                     Bullish

Resistance 1:         0.8920 supply level
Resistance 2:         0.8933 July 18 high
Resistance 3:         0.8957 July 20 high
Resistance 4:         0.8967 March 7 high
Resistance 5:         0.9013 November 12, 2017 high

Support 1:              0.8900 July 9 high
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 

Get the 5 most predictable currency pairs

About Author

Comments are closed.