EUR/GBP technical analysis: Bounces from the 0.8600 handle, trading at multi-month lows

10/17/2019 15:17:09 GMT|ByFlavio Tosti

The DUP (Democratic Unionist Party) rejected the Brexit deal, alleviating, for now, the bullish pressure on the GBP.
EUR/GBP is consolidating losses at multi-month lows, trading above the 0.8600 handle.

EUR/GBP daily chart

On the daily chart, EUR/GBP is trading in a bear trend below the main daily simple moving averages (DSMAs). This Thursday, the DUP (Democratic Unionist Party) rejected the Brexit deal, taming, for the time being, the bullish pressure on the GBP.

EUR/GBP four-hour chart

EUR/GBP is under bearish pressure below its main SMAs. Sellers need a daily break below the 0.8571 support in order to 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 sideways market in the near term. Resistances are can be seen at 0.8700/0.8720 price zone and the 0.8755 level, according to the Technical Confluences Indicator.

Additional key levels

EUR/GBP

Overview
Today last price	0.8657
Today Daily Change	0.0029
Today Daily Change %	0.34
Today daily open	0.8628

Trends
Daily SMA20	0.8842
Daily SMA50	0.8972
Daily SMA100	0.8974
Daily SMA200	0.8825

Levels
Previous Daily High	0.8753
Previous Daily Low	0.8596
Previous Weekly High	0.9022
Previous Weekly Low	0.8694
Previous Monthly High	0.915
Previous Monthly Low	0.8786
Daily Fibonacci 38.2%	0.8656
Daily Fibonacci 61.8%	0.8693
Daily Pivot Point S1	0.8565
Daily Pivot Point S2	0.8502
Daily Pivot Point S3	0.8408
Daily Pivot Point R1	0.8722
Daily Pivot Point R2	0.8816
Daily Pivot Point R3	0.8879

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