- EUR/GBP eases inside the choppy range between 0.9120 and 0.9100.
- Three-week-old rising trend line, 200-bar SMA probe bears.
- UK employment figures for November likely to portray another challenge for the Pound bulls.
EUR/GBP drops to 0.9112 during the pre-London open on Tuesday. Even so, the quote keeps the 20-pips range established above the 0.9100 since early Asia.
While recovery moves ahead of the short-term key support line favor EUR/GBP buyers, the pair traders await the latest employment data from the UK for fresh impulse.
Although forecasts suggest a downbeat scenario for the British currency, a one-week-old horizontal resistance line near 0.9145 offers an immediate upside hurdle before directing the EUR/GBP buyers towards the monthly peak near 0.9230.
During the run-up, the 0.9200 round-figure can offer an extra filter.
Alternatively, a downside break below the stated support line, at 0.9045 now, will shift the market’s attention to the 200-bar SMA level surrounding 0.8995.
In a case where the EUR/GBP bears dominate past-0.8995, the monthly low of 0.8930 will become their favorite.
EUR/GBP four-hour chart
Additional important levels
|Today last price||0.9116|
|Today Daily Change||0.0001|
|Today Daily Change %||0.01%|
|Today daily open||0.9115|
|Previous Daily High||0.9157|
|Previous Daily Low||0.9045|
|Previous Weekly High||0.923|
|Previous Weekly Low||0.8984|
|Previous Monthly High||0.9069|
|Previous Monthly Low||0.8861|
|Daily Fibonacci 38.2%||0.9088|
|Daily Fibonacci 61.8%||0.9114|
|Daily Pivot Point S1||0.9055|
|Daily Pivot Point S2||0.8994|
|Daily Pivot Point S3||0.8943|
|Daily Pivot Point R1||0.9166|
|Daily Pivot Point R2||0.9218|
|Daily Pivot Point R3||0.9278|
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