• EUR/GBP trades 0.30% higher in the battle of the weakest against the dollar.
  • Both EUR and GBP have struggled against the greenback on Wednesday but EUR faired slightly better.

EUR/GBP daily chart

In the battle of the weakest on Wednesday, the EUR comes out on top as EUR/GBP trades 0.30% higher on the session. The cross has now cemented itself above 0.90 and 0.9054 the previous wave high is also broken.

Looking at the technicals, there is a channel on the chart and if the price moves toward the channel top it could find itself near the 0.9150 figure. Both the main indicators at the bottom of the chart are bullish. The Relative Strength Index is above 50 and nearing the overbought zone but there is still space to the upside. The MACD histogram is still in the green and the signal lines are firmly above the mid zone.

As GBP is more sensitive to the sell-off in stocks if the bearishness continues the pair could continue on its upward trajectory. On the hourly chart (not in the article), the 0.9080 area looks slightly sticky to the upside and if the bulls manage to break that level it will be game on to the upside.


EUR/GBP technical analysis

Additional levels

EUR/GBP

Overview
Today last price 0.9064
Today Daily Change 0.0032
Today Daily Change % 0.35
Today daily open 0.9032
 
Trends
Daily SMA20 0.8965
Daily SMA50 0.8868
Daily SMA100 0.8798
Daily SMA200 0.8697
 
Levels
Previous Daily High 0.9079
Previous Daily Low 0.9019
Previous Weekly High 0.9073
Previous Weekly Low 0.8912
Previous Monthly High 0.9054
Previous Monthly Low 0.8691
Daily Fibonacci 38.2% 0.9056
Daily Fibonacci 61.8% 0.9042
Daily Pivot Point S1 0.9007
Daily Pivot Point S2 0.8983
Daily Pivot Point S3 0.8948
Daily Pivot Point R1 0.9067
Daily Pivot Point R2 0.9103
Daily Pivot Point R3 0.9127

 

 

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