EUR/GBP Price Analysis: Rounding top near three-month high keeps sellers hopeful below 0.9100


  • EUR/GBP eases from intraday high amid RSI and ADX taking U-turn from the overbought region.
  • A two-day-old support line, 100-HMA offers key support ahead of a two-week-long rising trend line.
  • Bulls may aim to refresh the yearly top during further upside.

EUR/GBP trades near 0.9090, close to the highest since March 26, amid Monday’s Asian session. The pair seems to fade upside momentum and portray a rounding top bearish chart pattern on the hourly formation. Also favoring the odds of further pullback could be the RSI and ADX conditions.

However, the sellers might wait for a clear break below June 23 high if 0.9078 before targeting a confluence of 100-HMA and immediate support line, near 0.9050.

During the pair’s further downside past-0.9050, an ascending trend line from June 16, at 0.9021, followed by 0.9000 psychological magnet could entertain the bears.

Meanwhile, the pair’s upside break of 0.9100 enables it to challenge the multiple resistances around 0.9150 ahead of confronting a 0.9300 upside barrier.

It should, however, be noted that the pair’s ability to cross 0.9300 might take only one stop around 0.9400 mark ahead of challenging the yearly peak surrounding 0.9500.

EUR/GBP hourly chart

Trend: Pullback expected

Additional important levels

Overview
Today last price 0.9092
Today Daily Change -2 pips
Today Daily Change % -0.02%
Today daily open 0.9094
 
Trends
Daily SMA20 0.8976
Daily SMA50 0.889
Daily SMA100 0.8815
Daily SMA200 0.87
 
Levels
Previous Daily High 0.91
Previous Daily Low 0.9026
Previous Weekly High 0.91
Previous Weekly Low 0.9001
Previous Monthly High 0.9054
Previous Monthly Low 0.8691
Daily Fibonacci 38.2% 0.9072
Daily Fibonacci 61.8% 0.9054
Daily Pivot Point S1 0.9047
Daily Pivot Point S2 0.8999
Daily Pivot Point S3 0.8972
Daily Pivot Point R1 0.9121
Daily Pivot Point R2 0.9148
Daily Pivot Point R3 0.9196

 

 

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