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GBP/USD

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EUR/GBP technical analysis: Euro erases most of the daily gains against Sterling, trading sub-0.9067 level

EUR/GBP is very volatile this Wednesday as the market almost reached the 0.9127 level.
The key level to beat for bears is the 0.9050 support followed by the 0.9037 level.

Flavio Tosti Independent Analyst

EUR/GBP daily chart

The market has been retracing down in August after peaking at the 0.9326 level. EUR/GBP exchange rate almost hit the August 29, 2017 high at the 0.9307 level.

EUR/GBP 4-hour chart

The market is very volatile this Wednesday with big swings in both directions. EUR/GBP is trading below its main SMAs, suggesting a bearish bias in the medium term. Bears need to break 0.9050 support to reach 0.9037, 0.9020 and the 0.9007 levels to generate a selloff towards 0.8945, according to the Technical Confluences Indicator.

EUR/GBP 30-minute chart

EUR/GBP is challenging the 200 SMA suggesting a consolidation in the near term. Immediate resistances are seen at 0.9067 and 0.9081, according to the Technical Confluences Indicator.

Additional key levels

EUR/GBP

Overview
Today last price	0.906
Today Daily Change	0.0036
Today Daily Change %	0.40
Today daily open	0.9024

Trends
Daily SMA20	0.9165
Daily SMA50	0.9052
Daily SMA100	0.8894
Daily SMA200	0.8837

Levels
Previous Daily High	0.9096
Previous Daily Low	0.9016
Previous Weekly High	0.9184
Previous Weekly Low	0.9028
Previous Monthly High	0.9192
Previous Monthly Low	0.8892
Daily Fibonacci 38.2%	0.9046
Daily Fibonacci 61.8%	0.9065
Daily Pivot Point S1	0.8995
Daily Pivot Point S2	0.8965
Daily Pivot Point S3	0.8915
Daily Pivot Point R1	0.9074
Daily Pivot Point R2	0.9125
Daily Pivot Point R3	0.9154

Author

Flavio Tosti

Independent Analyst

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