EUR/GBP Price Analysis: Breaking five day-range, more gains seen above 0.9100

EUR/GBP breaks to the upside in line with the dominant trend.
Technical indicators point to further gains, with a potential target at 0.9140.

Matías Salord FXStreet

The EUR/GBP pair is consoling above 0.9070, a bullish sign. It is about to test 0.9100 and will likely break higher if the current momentum remains in place. The next bullish target could be seen at 0.9130 and above the next resistance emerges at 0.9145.

The upside bias will remain in place while above the uptrend line from May low, currently at 0.8960. Before the mentioned level, a strong support is seen at 0.9015.

A retreat below 0.9060 would suggest the euro is not ready to extend the bullish run, likely leading to more range trading between 0.9020 and 0.9070.

EUR/GBP 4-hour chart

EUR/GBP dialy chart

EUR/GBP

Overview
Today last price	0.9098
Today Daily Change	0.0065
Today Daily Change %	0.72
Today daily open	0.9033

Trends
Daily SMA20	0.8971
Daily SMA50	0.8882
Daily SMA100	0.8809
Daily SMA200	0.8699

Levels
Previous Daily High	0.9065
Previous Daily Low	0.9001
Previous Weekly High	0.9073
Previous Weekly Low	0.8912
Previous Monthly High	0.9054
Previous Monthly Low	0.8691
Daily Fibonacci 38.2%	0.9026
Daily Fibonacci 61.8%	0.9041
Daily Pivot Point S1	0.9001
Daily Pivot Point S2	0.8969
Daily Pivot Point S3	0.8937
Daily Pivot Point R1	0.9065
Daily Pivot Point R2	0.9097
Daily Pivot Point R3	0.9129

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD flirts with weekly lows near 1.1770

EUR/USD now comes under further selling pressure, breaking below the 1.1800 support to challenge the area of weekly throughs near 1.1770 on Thursday. The pair’s decline comes in response to marked gains in the US Dollar amid steady geopolitical tensions. Ealier in the day, the ECB’s Lagarde delivered cautious remarks, although the currency remained apathetic.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold trims gains, slips back to around $5,170

Gold is now facing some downside pressure, hovering around the $5,170 region on Thursday. The yellow metal surrenders part of its earlier gains on the back of the resurgence of the buying interest in the Greenback. In the meantime, geopolitical tensions in the Middle East continue to limit the downside potential for now.