EUR/GBP Technical Analysis: 3-week old supportline highlights 50% Fibonacci retracement for buyers

EUR/GBP is taking the bids around 0.8580 while heading towards European session on Tuesday.
The pair continues to remain supported by a three-week-old upward sloping trend-line stretched since March 14.
Though, 0.8595 - 0.8600 region including 50% Fibonacci retracement of March 13 to 21 advances is likely important resistance to watch.
Should prices rally beyond 0.8600, 0.8640 and 0.8670 might entertain buyers ahead of pleasing them with 0.8700 and 0.8720 resistance levels.
In a case when the quote slips under 0.8540 support-line, 0.8500 and 0.8470 could quickly appear on the chart.
It should also be noted that 61.8% Fibonacci expansion of January 11 to March 21 moves, near 0.8360, can become sellers’ favorite if they dominate sentiment under 0.8470.

Anil Panchal FXStreet

EUR/GBP hourly chart

Additional important levels

Overview
Today last price	0.8577
Today Daily Change	5 pips
Today Daily Change %	0.06
Today daily open	0.8572

Trends
Daily SMA20	0.8579
Daily SMA50	0.8682
Daily SMA100	0.8802
Daily SMA200	0.8844

Levels
Previous Daily High	0.86
Previous Daily Low	0.8542
Previous Weekly High	0.8724
Previous Weekly Low	0.851
Previous Monthly High	0.8842
Previous Monthly Low	0.8529
Daily Fibonacci 38.2%	0.8578
Daily Fibonacci 61.8%	0.8564
Daily Pivot Point S1	0.8543
Daily Pivot Point S2	0.8514
Daily Pivot Point S3	0.8486
Daily Pivot Point R1	0.86
Daily Pivot Point R2	0.8628
Daily Pivot Point R3	0.8657

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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