EUR/GBP Price Analysis: Eyes deeper loss on a sustained move below 0.8650

EUR/GBP is under pressure in the early European session.
More downside envisioned if the spot breaks below the 0.8650 mark.
MACD remains neutral and asks for a wait-and-watch approach.

Rekha Chauhan Independent Analyst

The EUR/GBP cross remains under intense selling pressure in the early European session. The cross extended the previous day’s losses and held onto the crucial 0.8650 psychological mark.

At the time of writing, EUR/GBP is trading at 0.8654, down 0.51% on the day.

EUR/GBP four-hour chart

On the four-hour chart, the cross is extending declines from the daily highs of 0.8700. If prices defend the 0.8650 psychological mark, then a rebound could be expected, first to the intraday highs at 0.8700

The next on the card would be the 0.8720 horizontal resistance zone.

On the flip side, if prices follow the receding Moving Average Convergence Divergence (MACD), then it would be directed toward Thursday’s low in the vicinity of 0.8630 area.

The price action could open the gates for the 0.8600 horizontal support zone, followed by April 7 lows at 0.8582.

EUR/GBP Additional Levels

EUR/GBP

Overview
Today last price	0.8653
Today Daily Change	-0.0047
Today Daily Change %	-0.54
Today daily open	0.87

Trends
Daily SMA20	0.8675
Daily SMA50	0.8621
Daily SMA100	0.8742
Daily SMA200	0.889

Levels
Previous Daily High	0.8701
Previous Daily Low	0.8666
Previous Weekly High	0.8711
Previous Weekly Low	0.8624
Previous Monthly High	0.872
Previous Monthly Low	0.8472
Daily Fibonacci 38.2%	0.8687
Daily Fibonacci 61.8%	0.8679
Daily Pivot Point S1	0.8677
Daily Pivot Point S2	0.8654
Daily Pivot Point S3	0.8642
Daily Pivot Point R1	0.8712
Daily Pivot Point R2	0.8724
Daily Pivot Point R3	0.8748

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

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