- The bearish consolidation of the last weeks seems to have come to an end as EUR/GBP broke above the 0.8900 level. EUR/GBP is now trading above widening 50, 100 and 200-period simple moving averages suggesting a bullish bias.
- However, further gains this Monday are likely to be limited as EUR/GBP reached its average daily range of 40 pips.
- The next resistance to overcome to the upside are likely located near 0.8933 July 18 high and 0.8967 March 7 high while supports can be expected at the 0.8900 level and 0.8868, 13 July high.
EUR/GBP 15-minute chart
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Spot rate: 0.8917
Relative change: 0.21%
High: 0.8920
Low: 0.8880
Trend: Bullish
Resistance 1: 0.8920 weekly high
Resistance 2: 0.8933 July 18 high
Resistance 3: 0.8967 March 7 high
Resistance 4: 0.9013 November 12, 2017 high
Support 1: 0.8900 July 9 high
Support 2: 0.8868, 13 July high
Support 3: 0.8840 supply level
Support 4: 0.8820-0.8840 area, 200-day SMA
Support 5: 0.8800 figure
Support 6: 0.8780 daily 50-period SMA
Support 7: 0.8764 June 8 low
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