EUR/GBP Technical Analysis: Euro fades Tuesday’s high at 0.8830

  • EUR/GBP found resistance a few pips shy off Tuesday’s high. 
  • EUR/GBP is in a trading range as bears are now likely targeting the previous 0.8790 supply/demand level.
  • However a breakout above the 0.8839-0.8844 area, 200-day SMA and 6 week’s high, would likely open the gates to higher prices.

EUR/GBP 15-minute chart

Spot rate:                0.8815

Relative change:     0.37%     
High:                       0.8827
Low:                        0.8779

Trend:                     Neutral

Resistance 1:         0.8839-0.8844 area, 200-day SMA and 6 week’s high
Resistance 2:         0.8869 weekly 50-period SMA
Resistance 3:         0.9000 figure         

Support 1:              0.8790 supply/demand level
Support 2:              0.8754 daily 50-period SMA
Support 3:              0.8723, 5 June low

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.