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

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