EUR/GBP Price Analysis: Eases towards 0.8600 as failures to cross 200-DMA

EUR/GBP eases from 10-week high, holds ground near intraday low of late.
Bullish MACD keeps buyers hopeful but a clear upside break of 200-DMA becomes necessary.
Resistance-turned-support from April holds the gate for seller’s entry.

Anil Panchal FXStreet

EUR/GBP bulls take a breather around 0.8635 after 200-DMA probed them the previous day. In doing so, the quote eases towards the previous resistance line from late April during Thursday’s Asian session.

Although bullish MACD and the trend line breakout challenge the pair bears, a clear downside past 0.8625, comprising the stated resistance-turned-support line, won’t hesitate to revisit the early September tops near 0.8613.

Following that, the EUR/GBP downside will witness multiple challenges around the 0.8600 round figure before the seven-week-old support line near 0.8540 gains the market’s attention.

On the contrary, an upside break of 200-SMA level of 0.8646 will aim for the highs marked in July and May around 0.8670.

Should the pair buyers remain in the command past 0.8670, the 0.8700 threshold and April’s top surrounding 0.8740 will be in focus.

EUR/GBP: Daily chart

Trend: Pullback expected

Additional improtant levels

Overview
Today last price	0.8636
Today Daily Change	-0.0001
Today Daily Change %	-0.01%
Today daily open	0.8637

Trends
Daily SMA20	0.8568
Daily SMA50	0.8547
Daily SMA100	0.8568
Daily SMA200	0.865

Levels
Previous Daily High	0.8658
Previous Daily Low	0.8613
Previous Weekly High	0.8613
Previous Weekly Low	0.8532
Previous Monthly High	0.8599
Previous Monthly Low	0.845
Daily Fibonacci 38.2%	0.8641
Daily Fibonacci 61.8%	0.863
Daily Pivot Point S1	0.8614
Daily Pivot Point S2	0.8591
Daily Pivot Point S3	0.8568
Daily Pivot Point R1	0.8659
Daily Pivot Point R2	0.8682
Daily Pivot Point R3	0.8705

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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