• 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

Trend: Sideways

Additional important levels

Overview
Today last price 0.8364
Today Daily Change -0.0004
Today Daily Change % -0.05%
Today daily open 0.8368
 
Trends
Daily SMA20 0.8359
Daily SMA50 0.8431
Daily SMA100 0.8473
Daily SMA200 0.8529
 
Levels
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

 

 

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