EUR/GBP Technical Analysis: Bears in control eyeing 0.8900 level

  • EUR/GBP is trading down for the second consecutive day after reaching a new 2018 high this Thursday.
  • EUR/GBP is currently printing new daily lows below 0.8937 support as EUR/GBP momentum is switching to short-term bearish. EUR/GBP is trading below its main simple moving averages on the 15-minute chart.
  • EUR/GBP bears next targets to the downside are seen near 0.8920 supply level and 0.8900 July 9 high.  

EUR/GBP 15-minute chart

EUR/GBP daily chart

Spot rate:                0.8934

Relative change:     -0.61%     
High:                       0.8933
Low:                        0.8928

Main Trend:                          Bullish
Short-term Trend:                 Bearish below 0.9000

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 

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