EUR/GBP Technical Analysis: Buyers clear 3-week long resistance after sudden uptick in Euro

Anil Panchal FXStreet

EUR/GBP is on the bids around 0.8645, a tick beyond the three-week-old descending trend-line resistance during early Friday.

Should the pair manage to sustain 0.8640 trend-line breaks, it can aim for 50% Fibonacci retracement of February – March declines, at 0.8655, whereas 61.8% Fibonacci figure of 0.8700 and 0.8720-25 resistance area could challenge buyers afterward.

In a case prices continue rising past-0.8725 then 0.8740, 0.8770 and 0.8800 could become Bulls’ favorites.

On the contrary, pair’s dip beneath 0.8640 highlights the importance of immediate support-line near 0.8610 and then 0.8600 round-figure.

During further declines beneath 0.8600, 23.6% Fibonacci retracement of 0.8555 and another ascending trend-line at 0.8520 can act as buffers ahead of highlighting the 0.8500 and 0.8470 supports.

EUR/GBP 4-Hour chart

Trend: Bullish

Additional important levels

Overview
Today last price	0.8639
Today Daily Change	19 pips
Today Daily Change %	0.22
Today daily open	0.862

Trends
Daily SMA20	0.8582
Daily SMA50	0.8637
Daily SMA100	0.8774
Daily SMA200	0.8829

Levels
Previous Daily High	0.8636
Previous Daily Low	0.8601
Previous Weekly High	0.8638
Previous Weekly Low	0.8502
Previous Monthly High	0.8724
Previous Monthly Low	0.847
Daily Fibonacci 38.2%	0.8622
Daily Fibonacci 61.8%	0.8614
Daily Pivot Point S1	0.8602
Daily Pivot Point S2	0.8584
Daily Pivot Point S3	0.8568
Daily Pivot Point R1	0.8637
Daily Pivot Point R2	0.8654
Daily Pivot Point R3	0.8672

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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