• 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.

Read: UK Jobs Preview: Another positive surprise? GBP/USD could use a shot in the arm

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

Trend: Bearish

Additional important levels

Overview
Today last price 0.8885
Today Daily Change 0.0003
Today Daily Change % 0.03%
Today daily open 0.8882
 
Trends
Daily SMA20 0.8952
Daily SMA50 0.8989
Daily SMA100 0.9033
Daily SMA200 0.8995
 
Levels
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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