EUR/GBP Technical Analysis: EUR/GBP finding some resistance after 4-day bull run

EUR/GBP has been trading higher throughout the week, however, this Friday EUR/GBP has been losing some strength and is set to end the day in the red.
The 0.8933 July 18 high is the first resistance for bulls to break above, followed by the 50 and 100-period simple moving averages a few pips above it.
Failure to recapture the 0.8933 level can lead to an extension of the bearish correction towards the 0.8900 support.

Flavio Tosti Independent Analyst

EUR/GBP 15-minute chart

Spot rate: 0.8930

Relative change: -0.18%
High: 0.8960
Low: 0.8925

Trend: Bullish / bearish correction

Resistance 1: 0.8933 July 18 high
Resistance 2: 0.8967 March 7 high
Resistance 3: 0.9013 November 12, 2017 high

Support 1: 0.8900 figure
Support 2: 0.8868, 13 July high
Support 3: 0.8840 supply level
Support 4: 0.8820-0.8840 area, 200-day SMA
Support 5: 0.8800 figure
Support 6: 0.8780 daily 50-period SMA
Support 7: 0.8764 June 8 low

Author

Flavio Tosti

Independent Analyst

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