EUR/GBP Price Analysis: Pierces 200-day SMA in search of further upside

  • EUR/GBP nears the highest level in five months, registers a five-day winning streak.
  • 50% Fibonacci retracement can please buyers, a horizontal line from December-2019 limits short-term declines.
  • Bullish MACD, sustained break of the key SMA favor buyers.

Having successfully breached 200-day SMA, EUR/GBP takes the bids to 0.8775, up 0.45%, ahead of the European open on Wednesday.

The pair currently heads to 50% Fibonacci retracement of its August-December 2019 fall, at 0.8837.

Though, 0.8900, 61.8% Fibonacci retracement level of 0.8970 and October 2019 high near 0.9030 can challenge buyers next.

Sellers can look for an entry in a case where the pair fails to stay beyond 200-day SMA, at 0.8745 now, on a daily closing basis, which in turn could recall 38.2% Fibonacci retracement and the recent lows, respectively around 0.8700 and 0.8620.

It should be noted that the pair’s declines past-0.8620 will find strong support around 0.8600 that comprises highs marked during December 2019 and January 2020.

EUR/GBP daily chart

Trend: Bullish

Additional important levels

Today last price 0.8777
Today Daily Change 39 pips
Today Daily Change % 0.45%
Today daily open 0.8738
Daily SMA20 0.85
Daily SMA50 0.8491
Daily SMA100 0.8517
Daily SMA200 0.8741
Previous Daily High 0.8782
Previous Daily Low 0.8681
Previous Weekly High 0.8746
Previous Weekly Low 0.8594
Previous Monthly High 0.8644
Previous Monthly Low 0.8282
Daily Fibonacci 38.2% 0.8743
Daily Fibonacci 61.8% 0.8719
Daily Pivot Point S1 0.8685
Daily Pivot Point S2 0.8633
Daily Pivot Point S3 0.8585
Daily Pivot Point R1 0.8786
Daily Pivot Point R2 0.8834
Daily Pivot Point R3 0.8886



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.

Feed news

How do emotions affect trade?
Follow up our daily analysts guidance

Subscribe Today!    

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD remains pressured after US data misses estimates

EUR/USD is trading closer to 1.1750, paring its recovery from earlier in the day as the safe-haven dollar is bid. US Consumer Sentiment missed estimates with 72 points in September. The financial woes of China's Evergrande are weighing on sentiment.


GBP/USD trades under 1.38 amid on UK data, dollar strength

GBP/USD is on the back foot, trading under 1.38 after UK Retail Sales figures disappointed with -0.9% in August, worse than expected. Brexit uncertainty and dollar demand weighed on the pair earlier. 


XAU/USD surrenders intraday gains, drops closer to $1,750 level

Gold struggled to preserve its intraday gains and dropped to the lower end of the daily trading range during the early North American session. 

Gold News

Experts say Ripple will win SEC lawsuit, which might propel XRP to new all-time highs

The latest development in the ongoing SEC vs. Ripple lawsuit is that documents are classified as privileged and blocked for public viewing. Though institutional investors are yet to take big bets on the altcoin in 2021, retail investors are actively trading in XRP.

Read more

US Michigan Consumer Sentiment Preview: Markets will have to look hard for positive signs

Consumer outlook expected to rebound to 72.2 in September. August’s 70.2 was the lowest since December 2011. Inflation and Delta variant wearing on US optimism. Markets face negative dollar risk from fading consumer optimism.

Read more