EUR/GBP Price Analysis: Euro completes pullback to 0.9000, ready to resume upside?


  • Correction in EUR/GBP from monthly highs finds support around 0.9000.
  • Technical indicators starting to favor the upside, euro to gain momentum above 0.9070.

The EUR/GBP pair reached levels under 0.9000 on Friday but it quickly rebounded back above. On Monday it surged, recovering levels above 0.9050. The move higher was capped by 0.9070.

The euro completed a pullback to the 0.9000 area and it rebounded. A consolidation above 0.9070 could activate more gains in line with the dominant trend. The next resistance stands at 0.9100 followed by 0.9130.

A firm decline below 0.9000 would clear the way for an extension of the bearish correction from 0.9176 (June 29 high), with the immediate target at 0.8940.

EUR/GBP 4-hour chart

eurgbp

EUR/GBP

Overview
Today last price 0.9056
Today Daily Change 0.0045
Today Daily Change % 0.50
Today daily open 0.9011
 
Trends
Daily SMA20 0.9006
Daily SMA50 0.8918
Daily SMA100 0.8849
Daily SMA200 0.8705
 
Levels
Previous Daily High 0.9029
Previous Daily Low 0.9003
Previous Weekly High 0.9176
Previous Weekly Low 0.9003
Previous Monthly High 0.9176
Previous Monthly Low 0.8864
Daily Fibonacci 38.2% 0.9013
Daily Fibonacci 61.8% 0.9019
Daily Pivot Point S1 0.8999
Daily Pivot Point S2 0.8988
Daily Pivot Point S3 0.8973
Daily Pivot Point R1 0.9026
Daily Pivot Point R2 0.9041
Daily Pivot Point R3 0.9053

 

 

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