EUR/GBP Technical Analysis: Euro retracing to 0.8850 level after hitting a new monthly high


  • EUR/GBP is trading in a bull trend above the 200-period simple moving average (SMA) on the 4-hour chart. 
  • EUR/GBP retreated quite sharply from the 0.8950 resistance and October high. It is now consolidating just above the 0.8847 support and the 50 and 200 SMA. 
  • The RSI, MACD and Stochastic indicators have all turned bearish suggesting a pause in the bull trend. 

EUR/GBP 4-hour chart

Main Trend:            Bullish

Resistance 1:         0.8876 September 11 low
Resistance 2:         0.8900 figure 
Resistance 3:         0.8950 figure
Resistance 4:         0.8974 September 6 low
Resistance 5:         0.9000 figure

Support 1:              0.8847 September 20 low 
Support 2:              0.8800 figure
Support 3:              0.8752 October 16 low
Support 4:              0.8722 October low

 

Additional key levels at a glance:

EUR/GBP

Overview:
    Last Price: 0.8864
    Daily change: -64 pips
    Daily change: -0.717%
    Daily Open: 0.8928
Trends:
    Daily SMA20: 0.8818
    Daily SMA50: 0.8897
    Daily SMA100: 0.8885
    Daily SMA200: 0.8837
Levels:
    Daily High: 0.8942
    Daily Low: 0.8882
    Weekly High: 0.8897
    Weekly Low: 0.8798
    Monthly High: 0.9054
    Monthly Low: 0.8848
    Daily Fibonacci 38.2%: 0.8919
    Daily Fibonacci 61.8%: 0.8905
    Daily Pivot Point S1: 0.8893
    Daily Pivot Point S2: 0.8858
    Daily Pivot Point S3: 0.8834
    Daily Pivot Point R1: 0.8952
    Daily Pivot Point R2: 0.8976
    Daily Pivot Point R3: 0.9011

 

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