EUR/GBP Technical Analysis: Euro bulls on a counter-trend move up to 0.8800 target
|- EUR/GBP is trading in a bear trend below the 200-period simple moving average on the 4-hour chart.
- EUR/GBP is currently in a pullback up as the market is attempting to form a rounding bottom. The RSI, MACD and Stochastic indicators are rising and constructive to the upside in the near term.
- Resistance can be expected at the 0.8800 figure where investors will decide whether to resume the bear trend or letting the bullish pullback extend towards 0.8847 (September 20 low ).
Spot rate: 0.8788
Relative change: 0.33%
High: 0.8790
Low: 0.8745
Main Trend: Bearish
Short-term trend: Bullish
Resistance 1: 0.8800 figure
Resistance 2: 0.8847 September 20 low
Resistance 3: 0.8876 September 11 low
Support 1: 0.8764 June 8 low
Support 2: 0.8700 May low
Support 3: 0.8620 current 2018 low
Support 4: 0.8400 May 2017 low
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.