EUR/GBP Price Analysis: Rebound from 0.9000 reaffirms its bullish bias


  • EUR/GBP continues in a consolidation range, near monthly high, within a bullish trend.
  • A close above 0.9060 should open the doors to further gains.
  • Critical support for the euro is seen in the 0.8975/0.8960 band.

The EUR/GBP pair dropped on Thursday to 0.9000 but it quickly bounced back toward 0.9050. It continued to trade in the consolidation range between 0.9000 and the 0.9070 area.

The trend points to the upside, but the euro needs a firm break above 0.9070 in order to clear the way to more gains. The upside bias stays in place as long as EUR/GBP keeps 0.8960.

The immediate support is located at 0.9000; a break lower would clear the way for a bearish correction to test the 21-day moving average and an uptrend lined. The mentioned levels, between 0.8975 and 0.8960, are the critical support that if broken, would negate the current constructive perspective.

EUR/GBP daily chart

eurgbp

EUR/GBP

Overview
Today last price 0.9044
Today Daily Change -0.0015
Today Daily Change % -0.17
Today daily open 0.9059
 
Trends
Daily SMA20 0.8969
Daily SMA50 0.8875
Daily SMA100 0.8804
Daily SMA200 0.8698
 
Levels
Previous Daily High 0.9074
Previous Daily Low 0.9016
Previous Weekly High 0.9073
Previous Weekly Low 0.8912
Previous Monthly High 0.9054
Previous Monthly Low 0.8691
Daily Fibonacci 38.2% 0.9051
Daily Fibonacci 61.8% 0.9038
Daily Pivot Point S1 0.9026
Daily Pivot Point S2 0.8992
Daily Pivot Point S3 0.8968
Daily Pivot Point R1 0.9083
Daily Pivot Point R2 0.9107
Daily Pivot Point R3 0.9141

 

 

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