EUR/GBP technical analysis: Euro is trading at daily lows against Sterling

10/28/2019 14:27:08 GMT|ByFlavio Tosti

EUR/GBP is hovering near the October lows.
The level to beat for bears is the 0.8625 support.

EUR/GBP daily chart

On the daily chart, EUR/GBP is trading in a bear trend below the main daily simple moving averages (DMAs). In the last weeks of trading, the optimism of a Brexit deal dragged the spot below the 0.8600 handle.

EUR/GBP four-hour chart

EUR/GBP is trading below its main SMAs, suggesting a bearish bias in the medium term. In the medium term, a daily close below the 0.8575 support can potentially lead the market to the 0.8500 handle, according to the Technical Confluences Indicator.

EUR/GBP 30-minute chart

EUR/GBP is trading below its main SMAs, suggesting a bearish bias in the near term. Bears are challenging the daily lows and the 0.8625 support level. A break below it can lead to further losses towards the 0.8600 handle and 0.8570. Resistance is seen at the 0.8650/80 price levels.

Additional key levels

EUR/GBP

Overview
Today last price	0.863
Today Daily Change	-0.0006
Today Daily Change %	-0.07
Today daily open	0.8636

Trends
Daily SMA20	0.8765
Daily SMA50	0.8887
Daily SMA100	0.8957
Daily SMA200	0.8816

Levels
Previous Daily High	0.8672
Previous Daily Low	0.8622
Previous Weekly High	0.868
Previous Weekly Low	0.8576
Previous Monthly High	0.915
Previous Monthly Low	0.8786
Daily Fibonacci 38.2%	0.8641
Daily Fibonacci 61.8%	0.8653
Daily Pivot Point S1	0.8615
Daily Pivot Point S2	0.8594
Daily Pivot Point S3	0.8566
Daily Pivot Point R1	0.8664
Daily Pivot Point R2	0.8692
Daily Pivot Point R3	0.8713

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