EUR/GBP Technical Analysis: Break of 0.8680/85 becomes necessary to avoid visiting 0.8590

Anil Panchal FXStreet

EUR/GBP trades near 0.8640 during early Thursday. Despite repeated attempts, the pair couldn’t clear 0.8680/85 horizontal resistance comprising current month high.

As a result, chances of its pullback to 0.8590 support including lows marked on April 08 and 10 seem brighter. Though, 0.8620 may offer immediate halt during the downside.

Should there be increased southward pressure on prices under 0.8590, 0.8560, 0.8515 and 0.8470 are likely consecutive rest-points to appear on the chart.

Alternatively, 50% Fibonacci retracement of February to March decline near 0.8655 seem adjacent resistance ahead of 0.8680-85.

Given the pair’s successful rally beyond 0.8685, 61.8% Fibonacci retracement near 0.8700 and 0.8740/45 horizontal-region can gain Bulls’ attention.

EUR/GBP 4-Hour chart

Trend: Bearish

Additional important levels

Overview
Today last price	0.8641
Today Daily Change	-7 pips
Today Daily Change %	-0.08%
Today daily open	0.8648

Trends
Daily SMA20	0.8619
Daily SMA50	0.8616
Daily SMA100	0.8753
Daily SMA200	0.882

Levels
Previous Daily High	0.8685
Previous Daily Low	0.863
Previous Weekly High	0.8682
Previous Weekly Low	0.8618
Previous Monthly High	0.8724
Previous Monthly Low	0.847
Daily Fibonacci 38.2%	0.8651
Daily Fibonacci 61.8%	0.8664
Daily Pivot Point S1	0.8623
Daily Pivot Point S2	0.8599
Daily Pivot Point S3	0.8568
Daily Pivot Point R1	0.8678
Daily Pivot Point R2	0.8709
Daily Pivot Point R3	0.8733

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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