EUR/GBP Price Analysis: 10-day SMA limits immediate declines


  • EUR/GBP stays below 0.8500 for fourth-day in a row.
  • A falling trend line since January 14 adds to the resistance.
  • 50% and 61.8% of Fibonacci retracements could challenge sellers amid bullish MACD.

EUR/GBP registers another pullback from 0.8500 during the pre-Europe session on Monday. That said, the quote currently declines to 0.8490 with 38.2% Fibonacci retracement of December 2019 upside on the sellers’ radar.

While bullish MACD signals fewer chances of the pair’s further weakness, 10-day SMA around 0.8465 adds to the support below 38.2% Fibonacci retracement level of 0.8477.

In a case where the quote slips beneath 0.8465 on a daily closing basis, 61.8% Fibonacci retracement near 0.8400 and multiple bottoms near 0.8390/85 will be the keys to watch for sellers.

On the flip side, the pair’s successful rise above 0.8400 will push the buyers to confront a confluence of monthly falling trend line and 23.6% Fibonacci retracement close to 0.8525.

Additionally, 0.8540 holds the gate for the pair’s run-up beyond 0.8525 towards 0.8600.

EUR/GBP daily chart

Trend: Sideways

FXStreet Indonesian Site - new domain!
Access it at www.fxstreet-id.com

Additional important levels

Overview
Today last price 0.849
Today Daily Change -6 pips
Today Daily Change % -0.07%
Today daily open 0.8496
 
Trends
Daily SMA20 0.8484
Daily SMA50 0.8487
Daily SMA100 0.8585
Daily SMA200 0.8769
 
Levels
Previous Daily High 0.8499
Previous Daily Low 0.8462
Previous Weekly High 0.854
Previous Weekly Low 0.8403
Previous Monthly High 0.8598
Previous Monthly Low 0.8366
Daily Fibonacci 38.2% 0.8485
Daily Fibonacci 61.8% 0.8476
Daily Pivot Point S1 0.8472
Daily Pivot Point S2 0.8449
Daily Pivot Point S3 0.8435
Daily Pivot Point R1 0.8509
Daily Pivot Point R2 0.8523
Daily Pivot Point R3 0.8546

 

 

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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD extends sideways grind around 1.1650 after mixed US data

EUR/USD is struggling to find direction on Thursday and continues to fluctuate in a relatively tight range around mid-1.1600s. Mixed data releases from the US don't seem to be having a noticeable impact on the greenback's performance against its major rivals.

EUR/USD News

GBP/USD struggles to pull away from 1.3800

GBP/USD retraced a portion of Wednesday's during the European trading hours pressured by the renewed USD strength and the souring market mood. With the latest US data failing to trigger a reaction, the pair stays in a consolidation phase near 1.3800.

GBP/USD News

XAU/USD struggles for direction, flat-lined above $1,780 level

The risk-off impulse in the markets extended some support to the safe-haven gold. Elevated US bond yields, a modest USD strength capped the upside for the metal. Bulls need to wait for a move beyond the $1,800 mark before placing fresh bets.

Gold News

Buying Solana now to gain 700% profits by 2022

Solana price has been on a massive run-up in 2021 from $1 to $216 in roughly eight months. This stellar climb is likely to continue into 2022 as significant bullish signs emerge. Moreover, the start of a new bull run will serve as a tailwind for SOL.

Read more

Netflix: Three reasons to sell NFLX after earnings

NFLX has been strong into earnings as investors digested the massive success of Squid Game and hoped this would feed through into very strong subscriber numbers. Netflix was out straight after the bell with earnings.

Read more

Forex MAJORS

Cryptocurrencies

Signatures