EUR/GBP Price Analysis: Eases from six-month high amid overbought RSI

EUR/GBP stays mildly offered as buyers await fresh clues to attack 0.9300.
August 2019 peak adds to the upside barrier ahead of the yearly top.
0.9210, June month’s high can entertain short-term sellers.

Anil Panchal FXStreet

EUR/GBP declines to 0.9240, down 0.18% on a day, ahead of Monday’s European session. In doing so, the quote takes a U-turn from the highest since late-March amid overbought RSI conditions.

As a result, traders can witness a bit of more selling towards 23.6% Fibonacci retracement of December 2019 to March 2020 upside, around 0.9210, ahead of finding another strong support near 0.9175, including June’s peak.

If at all the bears manage to dominate past-0.9175, July’s top of 0.9148 and August month’s top near 0.9070 will flash on their radars.

Meanwhile, an upside clearance of 0.9300 becomes necessary for the bulls before they aim for August 2019 high surrounding 0.9325.

Also luring the bulls beyond 0.9300 will be the year’s high, marked in March, near 0.9500.

EUR/GBP daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	0.9244
Today Daily Change	-0.0014
Today Daily Change %	-0.15%
Today daily open	0.9258

Trends
Daily SMA20	0.9005
Daily SMA50	0.9026
Daily SMA100	0.8972
Daily SMA200	0.88

Levels
Previous Daily High	0.9292
Previous Daily Low	0.921
Previous Weekly High	0.9292
Previous Weekly Low	0.8929
Previous Monthly High	0.907
Previous Monthly Low	0.8909
Daily Fibonacci 38.2%	0.9261
Daily Fibonacci 61.8%	0.9241
Daily Pivot Point S1	0.9215
Daily Pivot Point S2	0.9172
Daily Pivot Point S3	0.9134
Daily Pivot Point R1	0.9296
Daily Pivot Point R2	0.9335
Daily Pivot Point R3	0.9378

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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