• EUR/GBP pokes intraday high, extends previous day’s recovery moves off 0.8874.
  • Bullish MACD suggests further upside momentum, a confluence of 200-hour EMA, one-week-old resistance line will be the key.

EUR/GBP battles short-term resistance as buyers attack the intraday high of 0.8915 during the pre-European session on Wednesday.

Although bullish MACD suggests the pair’s successful break above the immediate hurdle of 100-hour EMA, a joint of 200-hour EMA and a falling trend line from November 16, currently around 0.8932/33, will be a tough nut to crack for the EUR/GBP bulls.

If at all the quote manages to stay positive beyond 0.8933, it’s run-up towards the 0.9000 psychological magnet can’t be ruled out.

Meanwhile, lows marked twice during the week near 0.8875 offer nearby important support to watch as a downside break of which can probe the monthly low of 0.8861.

Also, the EUR/GBP sellers’ dominance past-0.8861 will make the pair vulnerable to revisit the early May month’s high near 0.8815.

EUR/GBP hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price 0.8914
Today Daily Change 14 pips
Today Daily Change % 0.16%
Today daily open 0.89
 
Trends
Daily SMA20 0.8971
Daily SMA50 0.9047
Daily SMA100 0.904
Daily SMA200 0.8952
 
Levels
Previous Daily High 0.8913
Previous Daily Low 0.8874
Previous Weekly High 0.8995
Previous Weekly Low 0.8915
Previous Monthly High 0.9162
Previous Monthly Low 0.8984
Daily Fibonacci 38.2% 0.8898
Daily Fibonacci 61.8% 0.8889
Daily Pivot Point S1 0.8879
Daily Pivot Point S2 0.8857
Daily Pivot Point S3 0.884
Daily Pivot Point R1 0.8918
Daily Pivot Point R2 0.8935
Daily Pivot Point R3 0.8956

 

 

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