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.

Flavio Tosti Independent Analyst

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

Author

Flavio Tosti

Independent Analyst

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