EUR/GBP technical analysis: Is the bullish fever overdone ?

EUR/GBP has been skyrocketing in the last sessions.
Can the bulls sustain the current move up or will bears take over below 0.8842 resistance? Stay tuned.

Flavio Tosti Independent Analyst

EUR/GBP daily

On the daily chart, EUR/GBP is trading in a bull testing the 0.8842 resistance.
EUR/GBP is reversing up sharply from the 2019 low. This Friday might be the first down day after 14 consecutive bullish closes.

EUR/GBP 4-hour chart

EUR/GBP is trading in an ascending channel above its main SMAs suggesting bullish momentum.

EUR/GBP 30-minute chart

EUR/GBP is still in an uptrend although the 0.8842 resistance can be a tough nut to crack. The market is trading below its 50 and 100 SMAs suggesting a potential correction down. In the absence of a break above 0.8842 the market can be seen testing 0.8780, 0.8750 and potentially 0.8720 level. If the market break beyond 0.8842 then a move up to 0.8900 figure can be on the cards.

Additional key levels

EUR/GBP

Overview
Today last price	0.8815
Today Daily Change	-0.0019
Today Daily Change %	-0.22
Today daily open	0.8834

Trends
Daily SMA20	0.8665
Daily SMA50	0.8629
Daily SMA100	0.8683
Daily SMA200	0.8792

Levels
Previous Daily High	0.8839
Previous Daily Low	0.879
Previous Weekly High	0.878
Previous Weekly Low	0.8622
Previous Monthly High	0.8685
Previous Monthly Low	0.8502
Daily Fibonacci 38.2%	0.882
Daily Fibonacci 61.8%	0.8809
Daily Pivot Point S1	0.8803
Daily Pivot Point S2	0.8772
Daily Pivot Point S3	0.8753
Daily Pivot Point R1	0.8852
Daily Pivot Point R2	0.887
Daily Pivot Point R3	0.8901

Author

Flavio Tosti

Independent Analyst

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