EUR/GBP Price Analysis: Gathers momentum, trades at around six-month high

EUR/GBP continues its upward trajectory for the third day, retreating slightly from a six-month high of 0.8765.
A significant break above the 200-day moving average has fueled the pair's recent gains, with a monthly increase of over 0.59%.
On the downside, an EUR/GBP move below the November 14 swing low of 0.8688 could see the pair testing the 200-day SMA, followed by the 50-day SMA at 0.8674.

Christian Borjon Valencia FXStreet

The EUR/GBP extended its advance for the third consecutive day, though it retreated from the six-month high reached on Thursday at 0.8765. On Friday, the cross-pair exchanges hands at 0.8753, post gains of 0.14%, ahead of the weekend.

After breaking above the 200-day moving average (DMA), the pair has extended its gains sharply. Since the beginning of November, the pair has gained more than 0.59%, with buyers eyeing additional gains.

The EUR/GBP's next resistance level is at 0.8800 before it reaches the May 3 high at 0.8834 before challenging the February 17 daily high of 0.8928. Once cleared, the next ceiling level would be the year-to-date (YTD) high of 0.8978.

On the other hand, if EUR/GBP sellers drag prices below the latest swing low reached on November 14 at 0.8688, the pair would dive toward the 200-day moving average (DMA), before challenging the 50-day moving average (DMA) at 0.8674.

EUR/GBP Price Analysis – Daily Chart

EUR/GBP Technical Levels

EUR/GBP

Overview
Today last price	0.8754
Today Daily Change	0.0013
Today Daily Change %	0.15
Today daily open	0.8741

Trends
Daily SMA20	0.8712
Daily SMA50	0.8672
Daily SMA100	0.8626
Daily SMA200	0.8685

Levels
Previous Daily High	0.8766
Previous Daily Low	0.8731
Previous Weekly High	0.8756
Previous Weekly Low	0.865
Previous Monthly High	0.8754
Previous Monthly Low	0.8616
Daily Fibonacci 38.2%	0.8753
Daily Fibonacci 61.8%	0.8745
Daily Pivot Point S1	0.8726
Daily Pivot Point S2	0.8711
Daily Pivot Point S3	0.8691
Daily Pivot Point R1	0.8761
Daily Pivot Point R2	0.8781
Daily Pivot Point R3	0.8796

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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