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EUR/GBP Technical Analysis: Bull party is over as EUR/GBP falls to 0.9000 figure

  • EUR/GBP bears broke below the bull trend channel and are currently testing the 0.9000 figure. 
  • Since the bull momentum has been so strong in the last weeks bulls might try to resume the bull trend another time. 
  • The sell-off was strong and their attempt is likely to fail near 0.9050 resistance. 

EUR/GBP 15-minute chart

Spot rate:                0.9000
Relative change:     -0.96%     
High:                       0.9093
Low:                        0.8987

Main Trend:            Bullish


Resistance 1:         0.9032 former 2018 high
Resistance 2:         0.9048 current 2018 high
Resistance 3:         0.9056 August 13, 2017 low
Resistance 4:         0.9100 figure
Resistance 5:         0.9121 September 10, 2017 high
Resistance 6:         0.9171 September 8, 2017 open

Support 1:              0.9000 figure
Support 2:              0.8965 supply/demand level
Support 3:              0.8940 August 14 high
Support 4:              0.8900 July 9 high
Support 5:              0.8868, 13 July high
Support 6:              0.8840 supply level

Author

Flavio Tosti

Flavio Tosti

Independent Analyst

 

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