EUR/GBP Technical Analysis: Market under pressure as Sterling gains on Brexit news

Flavio Tosti Independent Analyst

EUR/GBP 30-minute chart

EUR/GBP is trading below its main SMAs suggesting bearish momentum in the short-term.
The break below 0.8550 can lead to 0.8500 key support.
Resistances are at 0.8550, 0.8580 and 0.8600 level.

Additional key levels

EUR/GBP

Overview:
    Today Last Price: 0.8549
    Today Daily change: -84 pips
    Today Daily change %: -0.97%
    Today Daily Open: 0.8633
Trends:
    Daily SMA20: 0.865
    Daily SMA50: 0.8757
    Daily SMA100: 0.8827
    Daily SMA200: 0.8854
Levels:
    Previous Daily High: 0.8655
    Previous Daily Low: 0.8475
    Previous Weekly High: 0.8656
    Previous Weekly Low: 0.8536
    Previous Monthly High: 0.8842
    Previous Monthly Low: 0.8529
    Daily Fibonacci 38.2%: 0.8586
    Daily Fibonacci 61.8%: 0.8544
    Daily Pivot Point S1: 0.8521
    Daily Pivot Point S2: 0.8408
    Daily Pivot Point S3: 0.8341
    Daily Pivot Point R1: 0.87
    Daily Pivot Point R2: 0.8767
    Daily Pivot Point R3: 0.888

Author

Flavio Tosti

Independent Analyst

EUR/USD appears supported by the 200-day SMA, for now

Following an early pullback to multi-week lows near 1.1670, EUR/USD now manages to reclaim the 1.1700 region as the NA session draws to a close on Monday. The steep retracement in spot follows the equally strong move higher in the US Dollar, as investors continue to assess the geopolitical landscape in the wake of the US and Israel attacks on Iran.

GBP/USD hits new yearly lows near 1.3300

GBP/USD adds to the recent bearish tone, approaching to the key 1.3300 support to reach fresh YTD troughs against the backdrop of the robust performance of the US Dollar. Indeed, Cable’s decline comes amid the firm demand for the safe-haven space in the wake of the US and Israel attacks to Iran.

Gold eases some ground, approaches $5,300

Gold now surrenders part of the earlier advance, reshifting its attenton to the $5,300 zone per troy ounce at the beginning of the week. Indeed, the yellow metal’s firm performance appears propped up by incresing geopolitical jitters in the Middle East, which at the same time fuels the demand for the safe-haven space.