EUR/GBP Price Analysis: MACD flashes early signals for sellers


  • 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

Trend: Bearish

Additional important levels

Overview
Today last price 0.9112
Today Daily Change -12 pips
Today Daily Change % -0.13%
Today daily open 0.9124
 
Trends
Daily SMA20 0.9091
Daily SMA50 0.9054
Daily SMA100 0.9015
Daily SMA200 0.8836
 
Levels
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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