• The cross struggled to build on overnight goodish up-move beyond the very important 200-day SMA, or over two-week tops, and now seems to have snapped three consecutive days of winning streak.
• Despite the prevalent bearish pressure, the downslide abated ahead of an important confluence support, comprising of a short-term ascending trend-line and 200-hour SMA.
• With technical indicators on 1-hourly/daily chart holding in bearish territory, a convincing break below the mentioned support would suggest that the recent corrective bounce might have already run out of steam.
• However, a sustained move back above 200-day SMA might negate any near-term bearish bias and pave the way for an extension of the recovery move from near four-month lows, touched earlier this month.
EUR/GBP 1-hourly chart
-636758984206463168.png)
EUR/GBP
Overview:
Last Price: 0.8821
Daily change: -22 pips
Daily change: -0.249%
Daily Open: 0.8843
Trends:
Daily SMA20: 0.8827
Daily SMA50: 0.8906
Daily SMA100: 0.888
Daily SMA200: 0.8836
Levels:
Daily High: 0.886
Daily Low: 0.8805
Weekly High: 0.8836
Weekly Low: 0.8753
Monthly High: 0.9054
Monthly Low: 0.8848
Daily Fibonacci 38.2%: 0.8839
Daily Fibonacci 61.8%: 0.8826
Daily Pivot Point S1: 0.8812
Daily Pivot Point S2: 0.8781
Daily Pivot Point S3: 0.8758
Daily Pivot Point R1: 0.8867
Daily Pivot Point R2: 0.889
Daily Pivot Point R3: 0.8921
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