EUR/GBP Technical Analysis: Euro bulls going for a counter-trend move to 0.8800 figure
|- EUR/GBP is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
- EUR/GBP is having a pullback up as the market is attempting to form a rounding bottom. The RSI, MACD and Stochastic are rising and constructive to the upside in the near term.
- Resistance can be expected now at 0.8764 (June 8 low) and if broken at the 0.8800 figure where investors will gauge whether to resume the bear trend or letting the bullish pullback extend towards 0.8847 (September 20 low ).
EUR/GBP 4-hour chart
Spot rate: 0.8763
Relative change: 0.37%
High: 0.8766
Low: 0.8729
Main Trend: Bearish
Short-term trend: Bullish
Resistance 1: 0.8764 June 8 low
Resistance 2: 0.8800 figure
Resistance 3: 0.8847 September 20 low
Resistance 4: 0.8876 September 11 low
Support 1: 0.8700 May low
Support 2: 0.8620 current 2018 low
Support 3: 0.8400 May 2017 low
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