- EUR/GBP is consolidating for the fourth day in a row. Bulls want to resume the bull trend but they need at least convincing break above 0.8937.
- On the flip side, bears want to keep the currency cross below the 200-period simple moving averages on the 15-minute chart and below 0.8937.
- A breakout below 0.8900 can lead to a test of 0.8868 and 0.8840 supply level.
EUR/GBP 15-minute chart
EUR/GBP daily chart
Spot rate: 0.8923
Relative change: -0.19%
High: 0.8948
Low: 0.8896
Main Trend: Bullish
Resistance 1: 0.8937 July 31 high
Resistance 2: 0.8957/67 area, July 20 high and March 7 high
Resistance 3: 0.9019 August 9 high
Resistance 4: 0.9109 September 8, 2017 low
Resistance 5: 0.9160 August 23, 2017 low
Support 1: 0.8920 supply level
Support 2: 0.8900 July 9 high
Support 3: 0.8868, 13 July high
Support 4: 0.8840 supply level
Support 5: 0.8820-0.8840 area, 200-day SMA
Support 6: 0.8800 figure
Support 7: 0.8780 daily 50-period SMA
Support 8: 0.8764 June 8 low
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended content
Editors’ Picks
EUR/USD stays in tight channel above 1.0750
EUR/USD continues to fluctuate in a narrow band slightly above 1.0750 after posting small gains on Monday. Disappointing Factory Orders data from Germany limits the Euro's gains as investors keep a close eye on comments from central bankers.
GBP/USD retreats below 1.2550 as USD recovers
GBP/USD stays under modest bearish pressure and trades below 1.2550 in the European session on Tuesday. The cautious market stance helps the USD hold its ground and doesn't allow the pair to regain its traction. The Bank of England will announce policy decisions on Thursday.
Gold declines below $2,320 amid renewed US Dollar demand
Gold trades in negative territory below $2,320 as the souring mood allows the USD to find demand on Tuesday. Nevertheless, the benchmark 10-year US Treasury bond yield stays below 4.5% and helps XAU/USD limit its losses.
Ripple lawsuit develops with SEC reply under seal, XRP holders await public redacted versions
Ripple lawsuit’s latest development is SEC filing, under seal. The regulator has filed its reply brief and supporting exhibits and the documents will be made public on Wednesday, May 8.
The impact of economic indicators and global dynamics on the US Dollar
Recent labor market data suggest a cooling economy. The disappointing job creation and rising unemployment hint at a slackening demand for labor, which, coupled with subdued wage growth, could signal a slower economic trajectory.