EUR/GBP technical analysis: Euro sidelined above 0.8625 level against Sterling

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  • EUR/GBP is ranging above the 0.8625 level in the New York session. 
  • The level to beat for bears is the 0.8571 support. 
 

EUR/GBP daily chart

 
 
EUR/GBP, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DSMAs). In the last week, the bullish optimism over a Brexit deal pushed the market to the 0.6800 handle. 

EUR/GBP four-hour chart

 
 
EUR/GBP is consolidating losses above the 0.8600 handle and below its main SMAs. A daily break below the 0.8571 support can potentially target the 0.8500 handle on the way down. 

EUR/GBP 30-minute chart

 
 
EUR/GBP is trading above the 50 and 100 SMAs, suggesting a ranging market in the near term. Resistances can be seen at the 0.8700/0.8720 price zone and the 0.8755 level, according to the Technical Confluences Indicator. 
 

Additional key levels

 

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