EUR/GBP technical analysis: 0.8842 is the key resistance to break for a continuation up

EUR/GBP has seen a very strong recovery in the month of May can the bulls sustain the trend?
The 0.8842 resistance is for now a tough nut to crack.

Flavio Tosti Independent Analyst

EUR/GBP daily

EUR/GBP enjoyed a rather bullish month in May as the market broke to 3-month high and above the 200 simple moving average (SMA).

EUR/GBP 4-hour chart

EUR/GBP is trading in a bullish channel above its main SMAs suggesting a bullish bias in the medium term.

EUR/GBP 30-minute chart

EUR/GBP has been consolidating below 0.8842 resistance in the last four days. In the absence of a sustained break above 0.8842 the market drift lower towards 0.8780, 0.8750 and potentially 0.8720 level. However, if the market break beyond 0.8842 then a move up to 0.8900 figure can be on the cards for bulls.

Additional key levels

EUR/GBP

Overview
Today last price	0.883
Today Daily Change	-0.0003
Today Daily Change %	-0.03
Today daily open	0.8833

Trends
Daily SMA20	0.8683
Daily SMA50	0.864
Daily SMA100	0.868
Daily SMA200	0.8791

Levels
Previous Daily High	0.8838
Previous Daily Low	0.879
Previous Weekly High	0.8852
Previous Weekly Low	0.8724
Previous Monthly High	0.8685
Previous Monthly Low	0.8502
Daily Fibonacci 38.2%	0.8819
Daily Fibonacci 61.8%	0.8808
Daily Pivot Point S1	0.8802
Daily Pivot Point S2	0.8772
Daily Pivot Point S3	0.8754
Daily Pivot Point R1	0.885
Daily Pivot Point R2	0.8868
Daily Pivot Point R3	0.8898

Author

Flavio Tosti

Independent Analyst

EUR/USD sticks to positive bias above 1.1800 as trade jitters undermine USD

The EUR/USD pair builds on the previous day's modest gains and attracts some buyers for the second straight day on Thursday amid a softer US Dollar. Spot prices, however, lack bullish conviction and trade around the 1.1815-1.1820 area during the Asian session, up 0.10% for the day.

GBP/USD bounces as soft CPI boosts BoE cut bets

GBP/USD rose 0.42% on Wednesday, recovering toward 1.3600 in a session shaped by softer-than-expected UK inflation data and broad US Dollar weakness. The pair had been consolidating in a tight range between about 1.3450 and 1.3520 for the past few days following the sharp pullback from the late-January high near 1.3870, and Wednesday's move pushed price action back onto the high side of key moving averages.

Gold struggle with $5,200 extends ahead of more US-Iran talks

Gold is replicating the recovery moves seen in Wednesday’s Asian trading early Thursday, as buyers continue to flirt with the $5,200 level. Sustained US Dollar weakness and looming US-Iran talks aid the bright metal’s rebound.

Michael Saylor unveils Bitcoin-backed "Digital Credit" vision at Strategy World

Strategy CEO Michael Saylor delivered a keynote titled "Digital Credit" on Tuesday at Strategy World, positioning Bitcoin as the foundation of a new financial system built on what he described as "digital capital."

Nvidia delivers another monster earnings report, and forecasts big things to come

It was another monster earnings report from Nvidia for fiscal Q4. Revenues were $68.1bn, smashing estimates of $65bn. Gross profit margin was a healthy 75%, up from 73.5% in the prior quarter, and the outlook for this quarter was monstrous.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.