EUR/GBP Price Analysis: Climbs after hitting YTD low below 0.8500, oscillates around 0.8540s


  • EUR/GBP rebounds from a YTD low of 0.8492 to trade at 0.8542, gaining 0.28%, but remains below crucial moving averages.
  • The intraday outlook is neutral; a daily close above the August 22 high of 0.8545 could signal a move toward 0.8600.
  • Sellers could target the 0.8500 level if the pair closes below 0.8545; further downside is expected below that mark.

EUR/GBP currency pair is showing a neutral to downward bias as it hovers below both the 50 and 200-day Moving Averages (DMAs), according to the daily chart. Despite hitting a new year-to-date low of 0.8492, the pair saw buyers step in to reclaim the 0.8500 level, sparking a modest recovery towards the current exchange rate at around 0.8542, for a gain of 0.28%.

EUR/GBP Price Analysis: Technical outlook

The EUR/GBP daily chart portrays the pair as neutral to downward biased, with the EUR/GBP standing below the 50 and 200-day Moving Averages (DMAs). It should be noted the cross printed a new year-to-date (YTD) low of 0.8492, but buyers moved in and reclaimed the 0.8500 figure, spurring a recovery toward the 0.8540 area.

From an intraday perspective, the EUR/GBP hourly chart is neutral-biased, but it could turn upwards if it achieves a daily close above the August 22 daily high of 0.8545. Once done, the EUR/GBP could test the 200-hour Moving Average (HMA) at 0.8561, followed by the current week’s high of 0.8565. A breach of the latter could test the 0.8600 level.

Otherwise, if EUR/GBP registers a daily close below 0.8545, sellers could eye a test of the 0.8500 mark. Further downside is expected below that level.

EUR/GBP Price Action – Hourly chart

EUR/GBP

Overview
Today last price 0.8539
Today Daily Change 0.0021
Today Daily Change % 0.25
Today daily open 0.8518
 
Trends
Daily SMA20 0.8586
Daily SMA50 0.8583
Daily SMA100 0.8653
Daily SMA200 0.8717
 
Levels
Previous Daily High 0.8546
Previous Daily Low 0.8514
Previous Weekly High 0.8633
Previous Weekly Low 0.8524
Previous Monthly High 0.8701
Previous Monthly Low 0.8504
Daily Fibonacci 38.2% 0.8526
Daily Fibonacci 61.8% 0.8533
Daily Pivot Point S1 0.8506
Daily Pivot Point S2 0.8494
Daily Pivot Point S3 0.8474
Daily Pivot Point R1 0.8538
Daily Pivot Point R2 0.8558
Daily Pivot Point R3 0.857

 

 

 
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