- Symmetrical triangle limits short-term moves.
- 200-HMA adds strength to the support.
EUR/GBP is gradually reaching towards the breakout points of a week-long symmetrical triangle as it trades near 0.8895 while heading into the European open on Friday.
While the formation ends of 0.8880 and 0.8915 are likely strong levels to watch 200-hour moving average (200-HMA), at 0.8887 now, adds strength to the support side.
If prices slip under 0.8880, 61.8% Fibonacci retracement level of a fortnight-long upside, at 0.8850, followed by 0.8825 and 0.8800, can lure sellers.
In a case of the quote’s U-turn, 0.8905 can offer intermediate halt ahead of highlighting 0.8915.
Though, pair’s sustained break of 0.8915 could trigger a fresh bout of buying towards the month’s 0.8935.
EUR/GBP hourly chart
|Today last price||0.8894|
|Today Daily Change||-7 pips|
|Today Daily Change %||-0.08%|
|Today daily open||0.8901|
|Previous Daily High||0.8922|
|Previous Daily Low||0.8877|
|Previous Weekly High||0.8904|
|Previous Weekly Low||0.8824|
|Previous Monthly High||0.8876|
|Previous Monthly Low||0.8489|
|Daily Fibonacci 38.2%||0.8905|
|Daily Fibonacci 61.8%||0.8894|
|Daily Pivot Point S1||0.8878|
|Daily Pivot Point S2||0.8856|
|Daily Pivot Point S3||0.8834|
|Daily Pivot Point R1||0.8923|
|Daily Pivot Point R2||0.8944|
|Daily Pivot Point R3||0.8967|
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. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.