EUR/GBP Price Analysis: Skids past key EMAs, as sellers eye 0.8500

EUR/GBP slips past 50 and 20-day EMAs, reflecting increased bearish sentiment, trading 0.14% below the opening.
EUR/GBP’s breaking daily EMAs and one-month-old support trendline, deeper losses loom for the cross as sellers gain momentum.
A close below 0.8600 could accelerate the slide toward July 27 swing low, with a focus on the year’s lowest point. Immediate resistance at 0.8600-0.8610 zone.

Christian Borjon Valencia FXStreet

The EUR/GBP dropped for the third consecutive day, extending its losses past the 50 and 20-day Exponential Moving Averages (EMAs), the last time seen each at 0.8610 and 0.8603. At the time of writing, the EUR/GBP is trading at 0.8582, below its opening price by 0.14%.

EUR/GBP Price Analysis: Technical outlook

The EUR/GBP is trading sideways, slightly tilted to the downside, after prices fell below all the daily Exponential Moving Averages (EMAs), opening the door for further losses. Notably, the EUR/GBP fell to a new two-week low, and on its way down, it has broken a one-month-old support trendline drawn from the yearly lows, suggesting that sellers are gathering momentum.

If EUR/GBP achieves a daily close below 0.8600, the cross could extend its downtrend to the July 27 swing low of 0.8544 before challenging the year-to-date (YTD) low of 0.8504.

On the flip side, if EUR/GBP buyers reclaim 0.8600, the first resistance levels would be the 0.8601/10 area, followed by the 100-day EMA at 0.8646.

EUR/GBP Price Action – Daily chart

EUR/GBP

Overview
Today last price	0.8584
Today Daily Change	-0.0012
Today Daily Change %	-0.14
Today daily open	0.8596

Trends
Daily SMA20	0.8611
Daily SMA50	0.8588
Daily SMA100	0.8667
Daily SMA200	0.8723

Levels
Previous Daily High	0.8633
Previous Daily Low	0.8593
Previous Weekly High	0.8669
Previous Weekly Low	0.859
Previous Monthly High	0.8701
Previous Monthly Low	0.8504
Daily Fibonacci 38.2%	0.8608
Daily Fibonacci 61.8%	0.8617
Daily Pivot Point S1	0.8582
Daily Pivot Point S2	0.8567
Daily Pivot Point S3	0.8542
Daily Pivot Point R1	0.8622
Daily Pivot Point R2	0.8647
Daily Pivot Point R3	0.8662

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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