EUR/GBP Technical Analysis: Euro bulls might be back in town on a decisive break above 0.8800 figure
|- EUR/GBP is trading in a bear trend below the 100 and 200-period simple moving average.
- EUR/GBP bulls are trying to create a bottom above the 0.8700 figure as bulls are defending the 50 SMA. The RSI, MACD and Stochastic indicators are picking up but a breakout above the 0.8800 figure and the bear trendline is needed to open the gates to 0.8900 figure.
- Alternatively, in the absence of such bullish breakout the market is set to continue to trade down.
Spot rate: 0.8782
Relative change: 0.06%
High: 0.8811
Low: 0.8767
Main Trend: Bearish
Resistance 1: 0.8800 figure
Resistance 2: 0.8847 September 20 low
Resistance 3: 0.8876 September 11 low
Resistance 4: 0.9000 figure
Support 1: 0.8764 June 8 low
Support 2: 0.8722 October low
Support 3: 0.8700 May low
Support 4: 0.8620 current 2018 low
Support 5: 0.8400 May 2017 low
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