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  • EUR/GBP is very volatile this Wednesday as the market almost reached the 0.9127 level.
  • The key level to beat for bears is the 0.9050 support followed by the 0.9037 level.
 
 

EUR/GBP daily chart

 
The market has been retracing down in August after peaking at the 0.9326 level. EUR/GBP exchange rate almost hit the August 29, 2017 high at the 0.9307 level.  
 

EUR/GBP 4-hour chart

 
The market is very volatile this Wednesday with big swings in both directions. EUR/GBP is trading below its main SMAs, suggesting a bearish bias in the medium term. Bears need to break 0.9050 support to reach 0.9037, 0.9020 and the 0.9007 levels to generate a selloff towards 0.8945, according to the Technical Confluences Indicator.  
   
 
 
 

EUR/GBP 30-minute chart

 
EUR/GBP is challenging the 200 SMA suggesting a consolidation in the near term. Immediate resistances are seen at 0.9067 and 0.9081, according to the Technical Confluences Indicator.  
   

Additional key levels