EUR/GBP technical analysis: Euro near daily lows below 0.8900 against Pound

EUR/GBP has been in a strong bull leg in the last weeks.
Can the bulls sustain the move beyond the 0.8900 figure?

Flavio Tosti Independent Analyst

EUR/GBP daily

EUR/GBP is consolidating the recent gains below the 0.8900 figure.

EUR/GBP 4-hour chart

EUR/GBP is in a bullish channel above the main simple moving averages (SMAs) suggesting a bullish bias in the medium term.

EUR/GBP 30-minute chart

EUR/GBP is trading at the daily low below its main SMAs. Bears want to break 0.8843 support to drive the market down to 0.8820 and 0.8780. Resistances are at 0.8875 and 0.8900 figure.

Additional key levels

EUR/GBP

Overview
Today last price	0.8852
Today Daily Change	-0.0010
Today Daily Change %	-0.11
Today daily open	0.8862

Trends
Daily SMA20	0.8767
Daily SMA50	0.8671
Daily SMA100	0.8673
Daily SMA200	0.8785

Levels
Previous Daily High	0.8903
Previous Daily Low	0.8852
Previous Weekly High	0.8876
Previous Weekly Low	0.879
Previous Monthly High	0.8876
Previous Monthly Low	0.8489
Daily Fibonacci 38.2%	0.8872
Daily Fibonacci 61.8%	0.8884
Daily Pivot Point S1	0.8841
Daily Pivot Point S2	0.8821
Daily Pivot Point S3	0.879
Daily Pivot Point R1	0.8892
Daily Pivot Point R2	0.8923
Daily Pivot Point R3	0.8944

Author

Flavio Tosti

Independent Analyst

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.