EUR/GBP Technical Analysis: Sticking to the 0.8900 level
|- EUR/GBP main bull trend is currently on hold as bulls are supporting the market near the 0.8900 figure.
- EUR/GBP is consolidating the recent losses below its 50, 100 and 200-period simple moving averages which is quite bearish, however, the RSI, MACD and Stochastics indicators are trending upward. Both bears and bulls have a valid case and a breakout in either direction will confirm the directional bias for the coming sessions.
- However, bulls have the longer-term trend on their side and buyers might step in one more time in order to try to revive the uptrend.
Spot rate: 0.8910
Relative change: -0.10%
High: 0.8935
Low: 0.8896
Main Trend: Bullish
Resistance 1: 0.8940 August 14 high
Resistance 2: 0.8974 September 6 low
Resistance 3: 0.9000 figure
Support 1: 0.8896 August 14 swing low
Support 2: 0.8876 September 11 low
Support 3: 0.8840 supply level
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