EUR/GBP technical analysis: Euro off daily highs ahead of ECB’s Lagarde speech

EUR/GBP is hovering off daily highs near the 0.8640 level.
Market players will pay attention to the speech of the newly appointed ECB’s President, Christine Lagarde at 20:30 GMT.

Flavio Tosti Independent Analyst

EUR/GBP daily chart

On the daily chart, EUR/GBP is trading in a bear trend below its main daily simple moving averages (DMAs). Over the last weeks of trading, the euphoria of a Brexit deal sank the spot below near the 0.8600 handle. This Monday, investors will be on the lookout for any comments on monetary policy from the newly appointed ECB’s President, Christine Lagarde, at 20:30 GMT.

EUR/GBP four-hour chart

EUR/GBP is trading below the downward sloping 100 and 200 SMAs, suggesting a bearish bias in the medium term. In the medium term, a daily close below the 0.8575 support level could lead the spot to the 0.8500 handle, according to the Technical Confluences Indicator.

EUR/GBP 30-minute chart

EUR/GBP is sidelined trading above the 0.8625 price level. Bulls would need a break above 0.8650 to reach the 0.8680 resistance in the near term.

Additional key levels

EUR/GBP

Overview
Today last price	0.8636
Today Daily Change	0.0004
Today Daily Change %	0.05
Today daily open	0.8632

Trends
Daily SMA20	0.87
Daily SMA50	0.884
Daily SMA100	0.8944
Daily SMA200	0.8814

Levels
Previous Daily High	0.8638
Previous Daily Low	0.8595
Previous Weekly High	0.8654
Previous Weekly Low	0.8595
Previous Monthly High	0.9022
Previous Monthly Low	0.8575
Daily Fibonacci 38.2%	0.8621
Daily Fibonacci 61.8%	0.8611
Daily Pivot Point S1	0.8606
Daily Pivot Point S2	0.8579
Daily Pivot Point S3	0.8563
Daily Pivot Point R1	0.8648
Daily Pivot Point R2	0.8664
Daily Pivot Point R3	0.869

Author

Flavio Tosti

Independent Analyst

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