EUR/GBP Technical Analysis: teasing double top breakdown
|- The EUR/GBP pair is teasing a double top breakdown - break below the neckline of 0.8952 - having breached the rising trendline in favor of the bears, as seen in the 4-hour chart below.
- A double top breakdown, if confirmed, would open the doors to 0.8817 (target as per the measured move method). On the way lower, the pair may encounter support at 0.89.
- The prospects of double top breakdown would weaken sharply if the pair retakes the rising trendline.
4-hour chart
Trend: Bearish
EUR/GBP
Overview:
Today Last Price: 0.896
Today Daily change: 8.0 pips
Today Daily change %: 0.0894%
Today Daily Open: 0.8952
Trends:
Previous Daily SMA20: 0.9002
Previous Daily SMA50: 0.8904
Previous Daily SMA100: 0.8902
Previous Daily SMA200: 0.8856
Levels:
Previous Daily High: 0.9032
Previous Daily Low: 0.8943
Previous Weekly High: 0.9119
Previous Weekly Low: 0.8927
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Previous Daily Fibonacci 38.2%: 0.8977
Previous Daily Fibonacci 61.8%: 0.8998
Previous Daily Pivot Point S1: 0.8919
Previous Daily Pivot Point S2: 0.8886
Previous Daily Pivot Point S3: 0.883
Previous Daily Pivot Point R1: 0.9009
Previous Daily Pivot Point R2: 0.9065
Previous Daily Pivot Point R3: 0.9098
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.