- EUR/GBP struggles to keep recovery moves from 0.9100, drops for the fourth day in a row.
- MACD turns bearish for the first time in three weeks.
- Short-term symmetrical triangle restricts immediate moves.
EUR/GBP prints mild losses of 0.12% while staying depressed around 0.9110 during the pre-European trading on Monday. While a triangle formation since September 09 questions the pair’s immediate moves, bearish MACD signals favor the sellers.
As a result, a daily closing below the triangle’s support line, currently around 0.9100 becomes necessary to confirm the further weakness of EUR/GBP.
Following that, 50% and 61.8% Fibonacci retracement of the early month’s upside, respectively around 0.9075 and 0.9025, could please the bears ahead of 0.8930 and the monthly low of 0.8866.
In a case where EUR/GBP keeps its daily closing beyond the 21-day EMA level of 0.91118, intraday buyers may aim for 0.9145/50 resistances.
However, a falling trend line from September 11, at 0.9190 now, could keep the bulls chained afterward.
EUR/GBP daily chart
Additional important levels
|Today last price||0.9112|
|Today Daily Change||-12 pips|
|Today Daily Change %||-0.13%|
|Today daily open||0.9124|
|Previous Daily High||0.9168|
|Previous Daily Low||0.9119|
|Previous Weekly High||0.922|
|Previous Weekly Low||0.9113|
|Previous Monthly High||0.907|
|Previous Monthly Low||0.8909|
|Daily Fibonacci 38.2%||0.9138|
|Daily Fibonacci 61.8%||0.915|
|Daily Pivot Point S1||0.9105|
|Daily Pivot Point S2||0.9087|
|Daily Pivot Point S3||0.9056|
|Daily Pivot Point R1||0.9155|
|Daily Pivot Point R2||0.9187|
|Daily Pivot Point R3||0.9205|
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