EUR/GBP technical analysis: Euro under heavy pressure at five-month lows below the 0.8600 handle

0
  • EUR/GBP is under bearish pressure trading at levels not seen since May 2019. 
  • The level to beat for bears is the 0.8575 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 optimism of a Brexit deal sank the market below the 0.8600 handle. 

EUR/GBP four-hour chart

 
 
EUR/GBP is challenging last week lows at 0.8575 while trading below its main SMAs. A daily close below the 0.8575 support can potentially target the 0.8500 handle on the way down. 

EUR/GBP 30-minute chart

 
 
EUR/GBP is trading below the main SMAs, suggesting a bearish momentum in the near term. Resistances can be seen at the 0.8600, 0.8625 and 0.8650 price levels, according to the Technical Confluences Indicator. 
 

Additional key levels

 

Get the 5 most predictable currency pairs

About Author

Comments are closed.