EUR/GBP Price Analysis: Ascends gradually, as bull's eye 0.8750

EUR/GBP edges higher to 0.8724, marking a slight 0.08% increase, as it sustains momentum above the 200-day moving average.
The pair's advance slows, indicated by a lower Average True Range, pointing to decreased market volatility.
The next bullish milestones are set at the recent peak of 0.8754 and the psychological 0.8800 level, while a dip below 0.8700 could challenge the 200-DMA support.

Christian Borjon Valencia FXStreet

The EUR/GBP rallies for the fourth straight day in the mid-North American session, gains a minimal 0.08%, trading at 0.8724 after hitting a daily low of 0.8693.

The cross-pair is upward biased once it reclaimed the 200-day moving average (DMA) at 0.8687. Nevertheless, the uptrend appears to have lost some steam, as the Average True Range (ATR) at 37 pips suggests volatility is shrinking.

For a bullish resumption, EUR/GBP buyers must reclaim the October 11 high at 0.8754, followed by the 0.8800 figure. On the other hand, if sellers’ step in and pull the exchange rate below 0.8700, that would open the door to test the 200-DMA at 0.8687, which would exacerbate a drop to the 50-DMA at 0.8653.

EUR/GBP Price Analysis – Daily Chart

EUR/GBP Technical Levels

EUR/GBP

Overview
Today last price	0.8724
Today Daily Change	0.0009
Today Daily Change %	0.10
Today daily open	0.8715

Trends
Daily SMA20	0.8694
Daily SMA50	0.8652
Daily SMA100	0.8619
Daily SMA200	0.8691

Levels
Previous Daily High	0.8717
Previous Daily Low	0.8696
Previous Weekly High	0.8754
Previous Weekly Low	0.8664
Previous Monthly High	0.8754
Previous Monthly Low	0.8616
Daily Fibonacci 38.2%	0.8709
Daily Fibonacci 61.8%	0.8704
Daily Pivot Point S1	0.8702
Daily Pivot Point S2	0.8689
Daily Pivot Point S3	0.8681
Daily Pivot Point R1	0.8723
Daily Pivot Point R2	0.873
Daily Pivot Point R3	0.8743

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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