EUR/GBP Price Analysis: Sellers lick their wounds around mid-0.8500s


  • EUR/GBP bears take a breather around three-week-old support line.
  • Bearish MACD, short-term falling trend line resistance test corrective pullback.
  • June’s low lures sellers, bulls remain divided before refreshing monthly top.

EUR/GBP consolidates recent losses around 0.8545, up 0.05% intraday, amid early Tuesday. The cross-currency pair dropped to an ascending support line from June 23 the previous day before the bears took a breather.

However, MACD signals and the corrective pullback’s inability to cross a three-day-old descending resistance line keep sellers hopeful.

Even if the EUR/GBP buyers manage to cross the 0.8550 immediate hurdle, the 0.8600 threshold and the monthly peak surrounding 0.8620 remain as the key barrier to the north.

On the flip side, June’s low around 0.8530 adds to the downside filters below the stated support line near 0.8535. Though, a sustained trading below 0.8530 won’t hesitate to challenge the yearly bottom close to 0.8470.

During the fall, the 0.8500 round figure may act as an intermediate halt.

EUR/GBP four-hour chart

Trend: Bearish

Additional important levels

Overview
Today last price 0.8545
Today Daily Change 0.0005
Today Daily Change % 0.06%
Today daily open 0.854
 
Trends
Daily SMA20 0.8572
Daily SMA50 0.8599
Daily SMA100 0.8609
Daily SMA200 0.8785
 
Levels
Previous Daily High 0.8566
Previous Daily Low 0.8536
Previous Weekly High 0.8618
Previous Weekly Low 0.8536
Previous Monthly High 0.8646
Previous Monthly Low 0.8531
Daily Fibonacci 38.2% 0.8548
Daily Fibonacci 61.8% 0.8555
Daily Pivot Point S1 0.8529
Daily Pivot Point S2 0.8517
Daily Pivot Point S3 0.8499
Daily Pivot Point R1 0.8559
Daily Pivot Point R2 0.8578
Daily Pivot Point R3 0.8589

 

 

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