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

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