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

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Additional important levels

Today last price 0.849
Today Daily Change -6 pips
Today Daily Change % -0.07%
Today daily open 0.8496
Daily SMA20 0.8484
Daily SMA50 0.8487
Daily SMA100 0.8585
Daily SMA200 0.8769
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



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