EUR/GBP technical analysis: Euro under heavy pressure at five-month lows below the 0.8600 handle

EUR/GBP is under bearish pressure trading at levels not seen since May 2019.
The level to beat for bears is the 0.8575 support.

Flavio Tosti Independent Analyst

EUR/GBP daily chart

EUR/GBP, on the daily chart, is trading in a bear trend below its main daily simple moving averages (DSMAs). In the last week, the optimism of a Brexit deal sank the market below the 0.8600 handle.

EUR/GBP four-hour chart

EUR/GBP is challenging last week lows at 0.8575 while trading below its main SMAs. A daily close below the 0.8575 support can potentially target the 0.8500 handle on the way down.

EUR/GBP 30-minute chart

EUR/GBP is trading below the main SMAs, suggesting a bearish momentum in the near term. Resistances can be seen at the 0.8600, 0.8625 and 0.8650 price levels, according to the Technical Confluences Indicator.

Additional key levels

EUR/GBP

Overview
Today last price	0.8591
Today Daily Change	-0.0015
Today Daily Change %	-0.17
Today daily open	0.8606

Trends
Daily SMA20	0.8822
Daily SMA50	0.8946
Daily SMA100	0.8969
Daily SMA200	0.8821

Levels
Previous Daily High	0.8672
Previous Daily Low	0.86
Previous Weekly High	0.8814
Previous Weekly Low	0.8575
Previous Monthly High	0.915
Previous Monthly Low	0.8786
Daily Fibonacci 38.2%	0.8627
Daily Fibonacci 61.8%	0.8645
Daily Pivot Point S1	0.858
Daily Pivot Point S2	0.8553
Daily Pivot Point S3	0.8507
Daily Pivot Point R1	0.8653
Daily Pivot Point R2	0.8699
Daily Pivot Point R3	0.8726

Author

Flavio Tosti

Independent Analyst

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