EUR/GBP Price Analysis: Advances for the fifth day, secure 0.8700 as solid support

EUR/GBP maintains its upward momentum, trading at 0.8731, as it solidifies the 0.8700 level as a crucial support.
The pair shows a bullish bias, but a failure to surpass the 0.8755 high could invite bearish activity.
Key levels to watch include resistance at 0.8800 and 0.8834, with support at the 200-DMA of 0.8688 and the 50-DMA at 0.8657.

Christian Borjon Valencia FXStreet

EUR/GBP climbed during Friday’s session, extending its rally to five consecutive days, gaining so far 0.89% in the week, cementing the 0.8700 psychological level as solid support for the next week. At the time of writing, the cross-pair trades at 0.8731, up a decent 0.13%.

The EUR/GBP pair is bullish biased but downside risks remain. Unless buyers reclaim today’s high at 0.8755, bears are lurking. In the event of a bullish resumption, the cross’s first resistance would be the 0.8800 mark, followed by the May 3 high at 0.8834, followed by April’s 25 high at 0.8875.

Conversely, if EUR/GBP drops below 0.8700, the first support would be the 200-day moving average (DMA) previously broken at 0.8688 followed by the 50-DMA at 0.8657, before diving to the latest cycle low of 0.8649.

EUR/GBP Price Analysis – Daily Chart

EUR/GBP Technical Levels

EUR/GBP

Overview
Today last price	0.8738
Today Daily Change	0.0010
Today Daily Change %	0.11
Today daily open	0.8728

Trends
Daily SMA20	0.8698
Daily SMA50	0.8655
Daily SMA100	0.862
Daily SMA200	0.869

Levels
Previous Daily High	0.873
Previous Daily Low	0.8693
Previous Weekly High	0.8754
Previous Weekly Low	0.8664
Previous Monthly High	0.8754
Previous Monthly Low	0.8616
Daily Fibonacci 38.2%	0.8716
Daily Fibonacci 61.8%	0.8707
Daily Pivot Point S1	0.8704
Daily Pivot Point S2	0.868
Daily Pivot Point S3	0.8667
Daily Pivot Point R1	0.8741
Daily Pivot Point R2	0.8754
Daily Pivot Point R3	0.8778

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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