EUR/GBP Technical Analysis: Euro progresses against the Pound as the market is at 7-day’s high

Flavio Tosti Independent Analyst

EUR/GBP daily chart

EUR/GBP is trading in a sideways trend below its main simple moving averages (SMAs).

EUR/GBP 4-hour chart

EUR/GBP is trading between the 50 and 100 SMAs suggesting a consolidation phase in the medium-term.

EUR/GBP 30-minute chart

EUR/GBP is trading above its main SMAs suggesting bullish momentum.
A break above 0.8650 can lead to 0.8720 and 0.8780 level.
To the downside, support is at 0.8600 and 0.8580 level.

Additional key levels

EUR/GBP

Overview:
    Today Last Price: 0.8646
    Today Daily change: 93 pips
    Today Daily change %: 1.09%
    Today Daily Open: 0.8553
Trends:
    Daily SMA20: 0.8674
    Daily SMA50: 0.878
    Daily SMA100: 0.8833
    Daily SMA200: 0.8856
Levels:
    Previous Daily High: 0.8626
    Previous Daily Low: 0.8536
    Previous Weekly High: 0.8702
    Previous Weekly Low: 0.8529
    Previous Monthly High: 0.8842
    Previous Monthly Low: 0.8529
    Daily Fibonacci 38.2%: 0.857
    Daily Fibonacci 61.8%: 0.8592
    Daily Pivot Point S1: 0.8517
    Daily Pivot Point S2: 0.8482
    Daily Pivot Point S3: 0.8427
    Daily Pivot Point R1: 0.8607
    Daily Pivot Point R2: 0.8662
    Daily Pivot Point R3: 0.8697

Author

Flavio Tosti

Independent Analyst

EUR/USD struggles to build on recent rebound, holds above 1.1550

EUR/USD trades marginally lower on the day but holds above 1.1550 in the American session, following Thursday's rebound. The pair holds near its intraday high as the US Dollar remains pressured by hopes the Middle East conflict will soon come to an end.

GBP/USD hovers around 1.3400 as investors await war clarity

GBP/USD remains near its daily open, not far from 1.3400, in the second half of Friday's session. The US Dollar lost its previous intraday strength and weakens as investors await clarity on the US-Iran war.

Gold stabilizes above $4,200 as wait-and-see continues

After rising more than 3% on Thursday, Gold (XAU/USD) stabilized around the $4,200 mark in the American session on Friday. The US dollar seesaws between gains and losses, but remains within familiar levels as investors remain skeptical yet hopeful about a resolution to the Middle East conflict.

Crypto Today: Bitcoin, Ethereum, XRP recovery slows amid incessant capital outflows

The cryptocurrency remains in a broader corrective bias on Friday, despite majors such as Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) holding slightly higher than early-week support levels.

SpaceX launches 24% higher at Friday debut

Space Exploration Technologies (SPCX), aka SpaceX, zoomed 24% higher soon after the start of its first IPO trading day on Friday. Shares of the rocket and artificial intelligence (AI) company founded by Elon Musk began trading at about 11:46 am EST and quickly gained speed.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.