- EUR/GBP bounces off monthly low to snap three-day declines.
- Bullish MACD signals hint at further rebound but 50-HMA, weekly resistance line tests immediate upside.
- Sellers remain on the way to yearly low until crossing 200-HMA.
EUR/GBP rises 0.10% on a day to post the first daily upside in four around 0.8455, retreating from the intraday top during Friday’s European morning.
Although the bullish MACD signals keep the EUR/GBP pair buyers hopeful, a convergence of short-term descending trend line and 50-HMA, around 0.8470 restricts the quote’s nearby advances.
Also acting as an upside filter is the 0.8480 level and the 200-HMA surrounding 0.8505.
In a case where the EUR/GBP prices remain firmer past 0.8505, the weekly top of 0.8550 should lure the bulls.
Alternatively, fresh declines may initially aim for 0.8440 and the recent lows near 0.8415.
However, any further weakness past 0.8415 won’t hesitate to challenge the yearly low of 0.8380, marked in November.
EUR/GBP: Hourly chart
Trend: Further weakness expected
Additional important levels
|Today last price||0.8455|
|Today Daily Change||0.0009|
|Today Daily Change %||0.11%|
|Today daily open||0.8446|
|Previous Daily High||0.8498|
|Previous Daily Low||0.8416|
|Previous Weekly High||0.8553|
|Previous Weekly Low||0.8454|
|Previous Monthly High||0.8595|
|Previous Monthly Low||0.8381|
|Daily Fibonacci 38.2%||0.8447|
|Daily Fibonacci 61.8%||0.8467|
|Daily Pivot Point S1||0.8408|
|Daily Pivot Point S2||0.8371|
|Daily Pivot Point S3||0.8326|
|Daily Pivot Point R1||0.8491|
|Daily Pivot Point R2||0.8536|
|Daily Pivot Point R3||0.8573|
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