- EUR/GBP holds lower ground inside a short-term trading range.
- January 18 high adds strength to 0.8380 hurdle, 200-HMA acts as extra filter to the south.
- Steady RSI keeps the quote tight-lipped on a short timeframe.
EUR/GBP eases to 0.8365 amid an inactive trading session during early Wednesday morning in Europe.
Even so, the cross-currency pair remains inside a nearby trading range between 50-HMA and a three-day-old ascending support line, respectively around 0.8380 and 0.8360.
Given the steady RSI line, the latest sideways performance is likely to extend.
However, a one-week-old horizontal line adds strength to the 0.8380 resistance, making it harder to cross.
On the contrary, a downside break of 0.8360 will need validation from the 200-HMA level of 0.8352 before directing EUR/GBP bears towards the monthly low of 0.8305, also the lowest level since February 2020.
If at all the pair stays bearish below 0.8305, the 0.8300 round figure will probe the sellers before directing them to a February 2020 low of 0.8282.
It’s worth noting that the EUR/GBP upside past 0.8380 will propel it towards the 0.8400 threshold and then to the monthly peak of 0.8422.
EUR/GBP: Hourly chart
Additional important levels
|Today last price||0.8364|
|Today Daily Change||-0.0004|
|Today Daily Change %||-0.05%|
|Today daily open||0.8368|
|Previous Daily High||0.8402|
|Previous Daily Low||0.8358|
|Previous Weekly High||0.8379|
|Previous Weekly Low||0.8305|
|Previous Monthly High||0.86|
|Previous Monthly Low||0.8368|
|Daily Fibonacci 38.2%||0.8374|
|Daily Fibonacci 61.8%||0.8385|
|Daily Pivot Point S1||0.835|
|Daily Pivot Point S2||0.8332|
|Daily Pivot Point S3||0.8306|
|Daily Pivot Point R1||0.8394|
|Daily Pivot Point R2||0.842|
|Daily Pivot Point R3||0.8438|
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.