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
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.
Recommended content
Editors’ Picks
AUD/USD: Extra gains in the pipeline above 0.6520
AUD/USD partially reversed Tuesday’s strong pullback and regained the 0.6500 barrier and beyond in response to the sharp post-FOMC pullback in the Greenback on Wednesday.
EUR/USD jitters post-Fed with NFP Friday over the horizon
EUR/USD cycled familiar territory on Wednesday after the US Federal Reserve held rates as many investors had expected. However, market participants were hoping for further signs of impending rate cuts from the US central bank.
Gold prices skyrocketed as Powell’s words boosted the yellow metal
Gold prices rallied sharply above the $2,300 milestone on Wednesday after the Federal Reserve kept rates unchanged while announcing that it would diminish the pace of the balance sheet reduction.
Ethereum plunges outside key range briefly as US Dollar Index gains strength
Institutional whales appear to be dumping Ethereum after recent dip. Fed’s decision to leave rates unchanged appears to have helped ETH's price recover slightly. SEC Chair Gensler has misled Congress, considering recent revelations from Consensys suit, says Congressman McHenry.
The FOMC whipsaw and more Yen intervention in focus
Market participants clung to every word uttered by Chair Powell as risk assets whipped around in a frenetic fashion during the afternoon US trading session.