• The EUR/GBP slides some 0.05% during the New York session.
  • A mixed-market mood keeps the pair seesawing between gaining/losing.
  • EUR/GBP Price Forecast: Death-cross in the 4-hour chart pave the way for further losses.

The EUR/GBP extends its Monday’s losses, trading at 0.8423 during the New York session at the time of writing. The market sentiment is mixed, as US equity indices fluctuate between gainers and losers, though the S&P 500 printed an all-time high at 4,807, the Nasdaq retreats almost 1% at press time.

The Covid-19 outbreak continues. On Tuesday, cases worldwide reached a new daily high above 1.449 million cases amid the spread of the newly discovered strain called Omicron.

In the overnight session, the EUR/GBP remained subdued in the Asian session. But as European traders got to their desks, risk appetite weighed on the shared currency, which has been as of lately a safe-haven play, dipped as low as 0.8400, to then reverse its curse, stabilizing around the December 27 daily low at 0.8422.

EUR/GBP Price Forecast: Technical outlook

The EUR/GBP 4-hour chart depicts a formation of a falling wedge, but, at the same time, the 50-simple moving average (SMA) crossed below the 200-SMA, forming a death cross a bearish signal. Furthermore, the Relative Strength Index (RSI), a momentum indicator at 38.21 despite aiming up, stills in bearish territory, so a downward move is on the cards.

On the way down, the EUR/GBP’s first support would be the psychological 0.8400. A breach of the latter would expose the YTD low at 0.8380.

To the upside, EUR/GBP’s first resistance would be the December 28 daily high at 0.8430. A break of that level would open the door for further gains. The next line of defense for GBP bulls would be the December 24 daily high at 0.8463, followed by the December 23 daily high at 0.8497.


Today last price 0.8423
Today Daily Change -0.0004
Today Daily Change % -0.05
Today daily open 0.8427
Daily SMA20 0.8508
Daily SMA50 0.8484
Daily SMA100 0.8513
Daily SMA200 0.8554
Previous Daily High 0.8455
Previous Daily Low 0.8424
Previous Weekly High 0.8551
Previous Weekly Low 0.8416
Previous Monthly High 0.8595
Previous Monthly Low 0.8381
Daily Fibonacci 38.2% 0.8436
Daily Fibonacci 61.8% 0.8443
Daily Pivot Point S1 0.8416
Daily Pivot Point S2 0.8405
Daily Pivot Point S3 0.8385
Daily Pivot Point R1 0.8446
Daily Pivot Point R2 0.8466
Daily Pivot Point R3 0.8477



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 Join Telegram

Recommended content

Recommended content

Editors’ Picks

EUR/USD holds above 1.0700 after US inflation data

EUR/USD holds above 1.0700 after US inflation data

EUR/USD stays in the lower half of its daily range but continues to trade above 1.0700 in the early American session on Friday. The data from the US showed that the annual Core PCE Price Index declined to 4.9% in April as expected, making it difficult for the dollar to gather strength.


GBP/USD trades above 1.2600 as dollar struggles to find demand

GBP/USD trades above 1.2600 as dollar struggles to find demand

GBP/USD clings to daily gains above 1.2600 and remains on track to end the week in positive territory. The greenback struggles to attract investors after the data from the US showed that PCE inflation softened in April. 


Gold pulls away from daily highs, holds above $1,850

Gold pulls away from daily highs, holds above $1,850

Gold has lost its traction in the second half of the day on Friday and declined toward the $1,850 area. The benchmark 10-year US Treasury bond yield staged a modest rebound on the US PCE inflation data, not allowing XAU/USD to preserve its bullish momentum.

Gold News

Terra’s LUNA 2.0 support expands with Binance and Kraken welcoming the airdrop, here’s how you need to prepare

Terra’s LUNA 2.0 support expands with Binance and Kraken welcoming the airdrop, here’s how you need to prepare

Terra’s LUNA fork proposal has passed with 65.5% votes, Revival Plan 2 in action without algorithmic stablecoin UST. LUNA price could wipe out losses incurred by holders in the colossal crash of LUNC and UST. 

Read more

FXStreet Premium users exceed expectations

FXStreet Premium users exceed expectations

Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!