EUR/GBP technical analysis: Bulls remain in full control, now seems poised to challenge 200-DMA

   •  The EUR/GBP cross continued scaling higher for the tenth consecutive session and is currently placed at near two-month tops, just a few pips below mid-0.8700s.

   •  Renewed concerns over a no-deal Brexit continued taking its toll on the British Pound and had been one of the key factors fueling the ongoing positive momentum.

A sustained move beyond the 0.8675 supply zone and a subsequent acceptance above the 0.8700 handle - marking 38.2% Fibonacci retracement level of the 0.9119-0.8471 downfall, was seen as a key trigger for bullish traders and a follow-through up-move.

Technical indicators on the daily chart hold in the positive territory and support prospects for an extension of the bullish trajectory towards the 0.8785-90 confluence resistance - comprising of 50% Fibo. level and the very important 200-day SMA.

However, oscillators on the 4-hourly chart are already pointing to highly overbought conditions and hence, bulls are likely to take a breather near the mentioned barrier, rather opt to take some profit off the table after a strong rally of around 250-pips over the past two weeks.

EUR/GBP daily chart


Today last price 0.8742
Today Daily Change 0.0008
Today Daily Change % 0.09
Today daily open 0.8734
Daily SMA20 0.863
Daily SMA50 0.8606
Daily SMA100 0.8693
Daily SMA200 0.8796
Previous Daily High 0.875
Previous Daily Low 0.8714
Previous Weekly High 0.8649
Previous Weekly Low 0.8489
Previous Monthly High 0.8685
Previous Monthly Low 0.8502
Daily Fibonacci 38.2% 0.8737
Daily Fibonacci 61.8% 0.8728
Daily Pivot Point S1 0.8715
Daily Pivot Point S2 0.8696
Daily Pivot Point S3 0.8678
Daily Pivot Point R1 0.8751
Daily Pivot Point R2 0.8769
Daily Pivot Point R3 0.8788



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD: Stable amid trade calm and German stimulus hopes

EUR/USD is trading around 1.1100, marginally higher. President Trump expressed optimism about reaching a trade deal with China while Germany's Scholz opened the door to stimulus. EZ Core CPI is confirmed at 0.9%.


GBP/USD steady below 1.2150 after Yellowhammer leak, as Corbyn calls for no'confidence

GBP/USD is trading below 1.2150 amid reports of food shortages in case of a hard Brexit, project Yellowhammer. Opposition leader Corbyn calls for a no-confidence motion against the government 


USD/JPY bounces off 106.25, focus on Fed minutes, Jackson Hole

USD/JPY bounces off the key support at 106.25 and heads back towards the 106.50 level, in response to downbeat Japanese trade data, risk-on action in the Asian equities and higher Treasury yields.


Gold: Drops to multi-day lows, back below $1500 handle

Meanwhile, technical indicators have been gaining negative traction on hourly charts and support prospects for an extension of the corrective slide back towards testing last week's swing lows.

Gold News

Top 3 Price Prediction Bitcoin, Ripple, Ethereum: Bullish levels to watch after Binance announces Venus vs. Facebook's Libra

Cryptocurrencies have been advancing once again, with Bitcoin topping $10,500, Ethereum clawing its way back above $200, and Ripple extending its gains.

Read more