- EUR/GBP probes intraday top while defying the previous day’s downbeat momentum.
- MACD losses bullish bias, 100-bar SMA adds to the upside filters.
- Sellers will wait for a clear break of previous resistance line for entry.
EUR/GBP flirts with the intraday high of 0.8885 during early Tuesday. In doing so, the pair battles 50-bar SMA on the four-hour (4H) chart amid receding bullish signals from the MACD.
However, sellers are less likely to enter unless witnessing a clear downside break of a descending trend line from January 06, at 0.8860 now, not to forget waiting for the UK’s latest employment data.
In a case where the quote successfully crosses the immediate 0.8885 hurdle, Friday top near 0.8920 and 100-bar SMA around 0.8945 will challenge the EUR/GBP buyers.
It should, however, be noted that the pair’s ability to cross 0.8945 enables it to revisit the early-month low near 0.8990 and the 0.9000 psychological magnet.
Alternatively, a downside break below 0.8860 will eye for the monthly low of 0.8830 and the 0.8800 round-figure during the further weakness.
Overall, EUR/GBP remains in a downtrend ahead of the key UK employment report.
EUR/GBP four-hour chart
Additional important levels
|Today last price||0.8885|
|Today Daily Change||0.0003|
|Today Daily Change %||0.03%|
|Today daily open||0.8882|
|Previous Daily High||0.8899|
|Previous Daily Low||0.8869|
|Previous Weekly High||0.8925|
|Previous Weekly Low||0.883|
|Previous Monthly High||0.923|
|Previous Monthly Low||0.8929|
|Daily Fibonacci 38.2%||0.888|
|Daily Fibonacci 61.8%||0.8887|
|Daily Pivot Point S1||0.8868|
|Daily Pivot Point S2||0.8853|
|Daily Pivot Point S3||0.8837|
|Daily Pivot Point R1||0.8898|
|Daily Pivot Point R2||0.8914|
|Daily Pivot Point R3||0.8928|
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