EUR/GBP Technical Analysis: EUR/GBP ranging near 0.8840 level

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  • EUR/GBP price action keeps being dominated by trading range behavior. 
  • EUR/GBP bears tried to breakout below the weekly low at 0.8813 but found support near 0.8820. 
  • EUR/GBP is likely to stay contained in the 0.8820-0.8870 range for the remainder of Tuesday.

EUR/GBP 15-minute chart 

Spot rate:                0.8841

Relative change:     -0.25%     
High:                       0.8877
Low:                        0.8820

Trend:                     Bullish

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

Support 1:              0.8823-0.8840 area, 200-day SMA and supply level
Support 2:              0.8800 figure
Support 3:              0.8780 daily 50-period SMA
Support 4:              0.8764 June 8 low 

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