News

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

  • 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

 

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.