EUR/GBP Price Analysis: 0.9120 probes bounce off 61.8% Fibonacci retracement

  • EUR/GBP keeps late-Monday pullback from a three-week low.
  • A confluence of 100-bar EMA, falling trend line from Wednesday question recovery moves.
  • Sellers eye August-end tops below the key Fibonacci retracement level.

EUR/GBP trims early-Asian losses while picking up the bids near 0.9080/85 during the pre-European trading on Tuesday. The cross took a U-turn from 61.8% Fibonacci retracement of the September 03-11 upside the previous day.

Though, bearish MACD and nearness to the key 0.9120 resistance joint, including a falling trend line from September 23 and 100-bar EMA, can continue challenging the bulls.

In a case where the buyers manage to cross the 0.9120 upside barrier, another downward sloping trend line, from September 11, at 0.9180 now, will be in the spotlight.

Alternatively, EUR/GBP bears are less likely to take entries unless witnessing a clear downside break of the 61.8% Fibonacci retracement level, around 0.9030.

In doing so, the 0.9000 psychological magnet may offer an intermediate halt during the fall to the August 31 high of 0.8966 and then to the monthly bottom surrounding 0.8865.

EUR/GBP four-hour chart

Trend: Bearish

Additional important levels

Today last price 0.9083
Today Daily Change -5 pips
Today Daily Change % -0.06%
Today daily open 0.9088
Daily SMA20 0.9099
Daily SMA50 0.9055
Daily SMA100 0.9019
Daily SMA200 0.8839
Previous Daily High 0.9124
Previous Daily Low 0.9025
Previous Weekly High 0.922
Previous Weekly Low 0.9113
Previous Monthly High 0.907
Previous Monthly Low 0.8909
Daily Fibonacci 38.2% 0.9063
Daily Fibonacci 61.8% 0.9086
Daily Pivot Point S1 0.9034
Daily Pivot Point S2 0.8981
Daily Pivot Point S3 0.8936
Daily Pivot Point R1 0.9133
Daily Pivot Point R2 0.9177
Daily Pivot Point R3 0.9231



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.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD edges above 1.18 amid mixed US data, slim stimulus hopes

EUR/USD is trading above 1.30 after US Durable Goods Orders beat expectations but Consumer Confidence missed estimates. Hopes for a US stimulus deal are slim with a week left until the elections.


GBP/USD stabilizes above 1.30 amid Brexit and covid uncertainty

GBP/USD is hovering above the round 1.30 levels as rising UK COVID-19 cases, uncertainty about Brexit, and PM Johnson's political problems weigh on sterling. US data has been mixed.


XAU/USD pares early gains, turns flat near $1,900

For the third straight trading day on Tuesday, the XAU/USD pair is moving sideways above $1,900 as participants wait for the next significant catalyst. After climbing to a daily high of $1,910 earlier in the day, the pair lost its traction and was last seen trading virtually unchanged on the day at $1,902.

Gold News

Bitcoin breaks new yearly highs; the road to $15,000 is clear

Bitcoin breaks new yearly highs and hits $13,464. The road to $15,000 is clear as there are no major resistance levels above the current price.

Read more

WTI trims losses and moves near $39.00/bbl ahead of API

Following two consecutive daily pullbacks, prices of the West Texas Intermediate regain some buying interest and reach the $39.00 mark per barrel on turnaround Tuesday.

Oil News