EUR/GBP Technical Analysis: EUR/GBP ranging near 0.8840 level

EUR/GBP price action keeps being dominated by trading range behavior.
EUR/GBP bears tried to breakout below the weekly low at 0.8813 but found support near 0.8820.
EUR/GBP is likely to stay contained in the 0.8820-0.8870 range for the remainder of Tuesday.

Flavio Tosti Independent Analyst

EUR/GBP 15-minute chart

Spot rate: 0.8841

Relative change: -0.25%
High: 0.8877
Low: 0.8820

Trend: Bullish

Resistance 1: 0.8864-0.8870, weekly 50-period SMA and current weekly high
Resistance 2: 0.8900 figure
Resistance 3: 0.8967 March 7 high

Support 1: 0.8823-0.8840 area, 200-day SMA and supply level
Support 2: 0.8800 figure
Support 3: 0.8780 daily 50-period SMA
Support 4: 0.8764 June 8 low

Author

Flavio Tosti

Independent Analyst

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