The EUR/GBP pair could test key trendline support lined up near 0.8765 in the next few hours, having found acceptance under the 50-hour moving average (MA) earlier today.
Hourly chart
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The falling trendline seen in the above chart represents bearish lower highs and lower lows setup. The pair is trading below the 50-hour MA, currently at 0.8789 with RSI biased bearish below 50.00.
Therefore, the trendline sloping north from Jan. 25 and Jan. 28 lows, currently at 0.8765, could be put to test soon. The bearish case would weaken if the falling trendline resistance is scaled.
Trend: pullback likely
EUR/GBP
Overview:
Today Last Price: 0.8782
Today Daily change: -0.0006 pips
Today Daily change %: -0.07%
Today Daily Open: 0.8788
Trends:
Daily SMA20: 0.879
Daily SMA50: 0.8905
Daily SMA100: 0.8868
Daily SMA200: 0.8866
Levels:
Previous Daily High: 0.8818
Previous Daily Low: 0.8772
Previous Weekly High: 0.8795
Previous Weekly Low: 0.8636
Previous Monthly High: 0.9119
Previous Monthly Low: 0.8617
Daily Fibonacci 38.2%: 0.879
Daily Fibonacci 61.8%: 0.88
Daily Pivot Point S1: 0.8768
Daily Pivot Point S2: 0.8748
Daily Pivot Point S3: 0.8723
Daily Pivot Point R1: 0.8813
Daily Pivot Point R2: 0.8838
Daily Pivot Point R3: 0.8858
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