EUR/GBP Technical Analysis: Euro bulls start to run out of steam at weekly high near 0.8800
|- EUR/GBP tried to break above the 0.8800 level but bears are now selling EUR/GBP as it broke near weekly highs.
- If bears are successful traders should expect a rotation down towards 0.8761, the daily 50-period simple moving average.
- If bulls can keep the market afloat the next target is likely located near the 0.8826-0.8840 area, the 200-day SMA and last week’s high.
EUR/GBP 15-minute chart
Spot rate: 0.8792
Relative change: 0.32%
High: 0.8807
Low: 0.8751
Trend: Neutral
Resistance 1: 0.8800 figure
Resistance 2: 0.8826-0.8840 area, 200-day SMA and last week’s high
Resistance 3: 0.8861 weekly 50-period SMA
Support 1: 0.8761 daily 50-period SMA
Support 2: 0.8720, June low
Support 3: 0.8700 figure
Support 4: 0.8620 April 17 swing low
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