EUR/GBP Technical Analysis: Euro consolidating gains after bull breakout above 0.8800 figure

EUR/GBP is in a bear trend below the 200-period simple moving average on the 4-hour chart.
Bulls broke above the 0.8800 figure and the 50-period simple moving average. EUR/GBP is pulling back up as the market is trying to form a rounding bottom. The RSI, MACD and Stochastic indicators remain constructive to the upside in the near term. Next resistance is seen near 0.8847 (September 20 low).
However, a bear breakout below 0.8800 can lead to a resumption of the bear trend.

Flavio Tosti Independent Analyst

EUR/GBP 4-hour chart

Spot rate: 0.8820
Relative change: 0.32%
High: 0.8827
Low: 0.8797

Main Trend: Bearish
Short-term trend: Bullish

Resistance 1: 0.8847 September 20 low
Resistance 2: 0.8876 September 11 low
Resistance 3: 0.9000 figure

Support 1: 0.8800 figure
Support 2: 0.8764 June 8 low
Support 3: 0.8700 May low
Support 4: 0.8620 current 2018 low
Support 5: 0.8400 May 2017 low

Author

Flavio Tosti

Independent Analyst

EUR/USD slumps below 1.1750 as USD benefits from risk-aversion

EUR/USD comes under renewed bearish pressure in the European session and trades below 1.1750 following a recovery attempt earlier in the day. The US Dollar gathers strength and weighs on the pair as investors seek refuge in the wake of Israel and the United States' joint attack on Iran.

GBP/USD targets 1.3500 barrier near moving averages

GBP/USD rebounds from the daily losses, trading around 1.3450 during the Asian hours on Monday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold surges on safe-haven demand, closes in on $5,400

Gold benefits from intense risk-aversion on Monday and climbs toward $5,400, setting a fresh monthly-high in the process. Tensions in the Middle East remain high as Israel and Hezbollah continue to exchange strikes following the US-Israel joint attack on Iran over the weekend.

Bitcoin, Ethereum and Ripple under pressure as key supports face breakdown risk

Bitcoin, Ethereum, and Ripple prices trade on the back foot at the start of this week on Monday, after extending losses in the previous week. BTC is on the brink of a breakdown, ETH is capped below key resistance, and XRP risks a crack of the trendline.

The market is paying for insurance, not apocalypse

As expected, this morning felt less like a Monday market open and more like a fire drill. Futures screens flickered red. S&P contracts down almost 1%. Nasdaq off 1.2%. Brent leaped 13% through $80. Gold rose 1.6% toward $5350 before paring some gains. The dollar is strutting mildly. The Swiss franc is quietly doing what it always does in a storm, catching some safe-haven flows.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.