EUR/GBP Technical Analysis: 200-hour MA is key support

Omkar Godbole FXStreet Contributor

EUR/GBP's recent drop from 0.9087 to 0.8952 has neutralized the immediate bullish outlook. A bearish reversal, however, would be confirmed below the crucial support of the 200-hour moving average (MA).

Hourly Chart

As seen above, the 200-hour MA line proved a tough to crack last week, having worked as a strong support earlier this month. As a result, the key MA line is the level to beat for the bears. Acceptance below 0.8973 (200-hour MA), if confirmed, could yield a quick drop to 0.89.

Trend: bearish below 200-hour MA

EUR/GBP

Overview:
    Today Last Price: 0.899
    Today Daily change: 8.0 pips
    Today Daily change %: 0.0891%
    Today Daily Open: 0.8982
Trends:
    Previous Daily SMA20: 0.8921
    Previous Daily SMA50: 0.8845
    Previous Daily SMA100: 0.8892
    Previous Daily SMA200: 0.8841
Levels:
    Previous Daily High: 0.9009
    Previous Daily Low: 0.8961
    Previous Weekly High: 0.9089
    Previous Weekly Low: 0.8952
    Previous Monthly High: 0.8932
    Previous Monthly Low: 0.8656
    Previous Daily Fibonacci 38.2%: 0.8991
    Previous Daily Fibonacci 61.8%: 0.8979
    Previous Daily Pivot Point S1: 0.8959
    Previous Daily Pivot Point S2: 0.8936
    Previous Daily Pivot Point S3: 0.8911
    Previous Daily Pivot Point R1: 0.9007
    Previous Daily Pivot Point R2: 0.9032
    Previous Daily Pivot Point R3: 0.9055

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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