EUR/GBP technical analysis: Euro hits a new monthly low against the Sterling

08/27/2019 14:00:07 GMT|ByFlavio Tosti

EUR/GBP reached a new monthly low at 0.9016 this Tuesday.
The key level to beat for bears is the 0.9020/0.9007 support zone.

EUR/GBP daily chart

In August the market has been retracing down after peaking at the 0.9326 level. EUR/GBP almost reached the August 29, 2017 high at the 0.9307 level.

EUR/GBP 4-hour chart

The market is off the monthly lows still under bearish pressure. Sellers need a sustained break below 0.9020 and 0.9007 to generate a selloff towards 0.8945, according to the Technical Confluences Indicator.

EUR/GBP 30-minute chart

EUR/GBP is trading below its main SMAs suggesting bearish momentum in the near term. Immediate resistances are seen at 0.9037, 0.9050, 0.9067 and 0.9081, according to the Technical Confluences Indicator.

Additional key levels

EUR/GBP

Overview
Today last price	0.9035
Today Daily Change	-0.0051
Today Daily Change %	-0.56
Today daily open	0.9086

Trends
Daily SMA20	0.9173
Daily SMA50	0.905
Daily SMA100	0.889
Daily SMA200	0.8836

Levels
Previous Daily High	0.911
Previous Daily Low	0.9063
Previous Weekly High	0.9184
Previous Weekly Low	0.9028
Previous Monthly High	0.9192
Previous Monthly Low	0.8892
Daily Fibonacci 38.2%	0.9081
Daily Fibonacci 61.8%	0.9092
Daily Pivot Point S1	0.9063
Daily Pivot Point S2	0.9039
Daily Pivot Point S3	0.9015
Daily Pivot Point R1	0.911
Daily Pivot Point R2	0.9134
Daily Pivot Point R3	0.9158

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