EUR/GBP Technical Analysis: Euro bulls grinding up and testing 0.8900 figure

EUR/GBP is trading in an uptrend above the 200-period simple on the 4-hour chart.
EUR/GBP has been trading in a bull channel for the most part of October and it is now trying to breakout above the 0.8900 figure. Technical indicators show no slowing down of the current trend suggesting that a potential continuation up towards 0.8950 figure can be on the cards.
However, a strong rejection of 0.8900 might lead to a correction to 0.8850 and the 200-period simple moving average.

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Main Trend: Bullish

Resistance 1: 0.8900 figure
Resistance 2: 0.8950 figure
Resistance 3: 0.9000 figure

Support 1: 0.8876 September 11 low
Support 2: 0.8847 September 20 low
Support 3: 0.8800 figure
Support 4: 0.8752 October 16 low
Support 5: 0.8722 October low

Additional key levels at a glance

EUR/GBP

Overview:
    Last Price: 0.8892
    Daily change: 5.0 pips
    Daily change: 0.0563%
    Daily Open: 0.8887
Trends:
    Daily SMA20: 0.8816
    Daily SMA50: 0.8899
    Daily SMA100: 0.8883
    Daily SMA200: 0.8836
Levels:
    Daily High: 0.8897
    Daily Low: 0.8862
    Weekly High: 0.8897
    Weekly Low: 0.8798
    Monthly High: 0.9054
    Monthly Low: 0.8848
    Daily Fibonacci 38.2%: 0.8883
    Daily Fibonacci 61.8%: 0.8875
    Daily Pivot Point S1: 0.8866
    Daily Pivot Point S2: 0.8846
    Daily Pivot Point S3: 0.8831
    Daily Pivot Point R1: 0.8902
    Daily Pivot Point R2: 0.8917
    Daily Pivot Point R3: 0.8937

Author

Flavio Tosti

Independent Analyst

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