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EUR/GBP Technical Analysis: Euro collapsing to new 2019 low against the Pound

EUR/GBP daily chart  

  • EUR/GBP is trading in a sideways trend below the 50, 100 and 200-day simple moving averages (SMAs).
  • As discussed, failure to hold price above the 0.8760 support lead to a drop to the 0.8710 level.

EUR/GBP 4-hour chart

  • EUR/GBP is trading below the main SMAs as the currency cross is trading at new 2019 lows.

EUR/GBP 30-minute chart

  • As EUR/GBP is trading below its main SMAs the bears are in control of the market.  
  • If the sellers can keep EUR/GBP below 0.8710 a drop to 0.6560 can be on the cards.
  • On the flip side, bulls will try to reclaim the resistances  near 0.8760 and the 0.8820  level.  

Additional key levels

EUR/GBP

Overview:
       Today Last Price:  0.8709
       Today Daily change:  -0.0056  pips
       Today Daily change %:  -0.64%
       Today Daily Open:  0.8765
Trends:
       Daily SMA20:  0.8937
       Daily SMA50:  0.8933
       Daily SMA100:  0.8889
       Daily SMA200:  0.8867
Levels:
       Previous Daily High:  0.8831
       Previous Daily Low:  0.876
       Previous Weekly High:  0.8988
       Previous Weekly Low:  0.8764
       Previous Monthly High:  0.9089
       Previous Monthly Low:  0.8863
       Daily Fibonacci 38.2%:  0.8787
       Daily Fibonacci 61.8%:  0.8804
       Daily Pivot Point S1:  0.874
       Daily Pivot Point S2:  0.8714
       Daily Pivot Point S3:  0.8669
       Daily Pivot Point R1:  0.8811
       Daily Pivot Point R2:  0.8856
       Daily Pivot Point R3:  0.8882

 

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