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2 Aug 2018

EUR/GBP Technical Analysis: EUR/GBP turns lower breaking below 0.8900 level

  • EUR/GBP broke below the 0.8900 level as bulls failed to keep the bullish mood initiated on Monday. 
  • The 50-period simple moving average crossed below the 200 SMA as all the SMA are widening suggesting a bearish bias. 
  • The 0.8900 become now resistance as bears will try to drive EUR/GBP towards 0.8868 and 0.8840 supply level.  

EUR/GBP 15-minute chart 

Spot rate:                0.8870

Relative change:     0.04%     
High:                       0.8887
Low:                        0.8882

Trend:                     Neutral

Resistance 1:         0.8900 July 9 high
Resistance 2:         0.8920 supply level
Resistance 3:         0.8933 July 18 high
Resistance 4:         0.8957 July 20 high
Resistance 5:         0.8967 March 7 high
Resistance 6:         0.9013 November 12, 2017 high

Support 1:              0.8868, 13 July high
Support 2:              0.8840 supply level
Support 3:              0.8820-0.8840 area, 200-day SMA 
Support 4:              0.8800 figure
Support 5:              0.8780 daily 50-period SMA
Support 6:              0.8764 June 8 low 

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