- EUR/GBP reverses Friday’s corrective pullback, refreshes intraday low.
- 20-SMA, weekly resistance line guards immediate upside.
- RSI conditions suggest limit for the bears around yearly low.
EUR/GBP takes offers to refresh intraday low around 0.8485, down 0.10% on a day during early Monday.
The cross-currency pair benefited from the oversold RSI conditions during the last week while bouncing off the two-month low.
However, a short-term descending trend line and 20-SMA triggered the quote’s fresh pullback towards the multi-day low of 0.8474.
In a case where the EUR/GBP bears refrain from following the RSI signals, the yearly low marked in August around 0.8450 will be in focus.
Meanwhile, a two-month-long horizontal line joins the stated falling trend line and 20-SMA to restrict short-term EUR/GBP rebound below the 0.8500 threshold.
Should the quote crosses 0.8500, the 61.8% Fibonacci retracement of August-September upside near 0.8530 should lure the bulls.
EUR/GBP: Four-hour chart
Additional important levels
|Today last price||0.8487|
|Today Daily Change||-0.0008|
|Today Daily Change %||-0.09%|
|Today daily open||0.8495|
|Previous Daily High||0.8501|
|Previous Daily Low||0.8479|
|Previous Weekly High||0.8574|
|Previous Weekly Low||0.8475|
|Previous Monthly High||0.8658|
|Previous Monthly Low||0.8501|
|Daily Fibonacci 38.2%||0.8493|
|Daily Fibonacci 61.8%||0.8488|
|Daily Pivot Point S1||0.8482|
|Daily Pivot Point S2||0.8469|
|Daily Pivot Point S3||0.846|
|Daily Pivot Point R1||0.8504|
|Daily Pivot Point R2||0.8514|
|Daily Pivot Point R3||0.8527|
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