EUR/GBP Technical Analysis: Ranging above trend-line support/200-DMA

Haresh Menghani FXStreet

• The cross has been moving to-and-fro within a broader trading range over the past two-trading sessions and struggled for a firm near-term direction.

• Short-term technical indicators point to an extension of the consolidative phase until the very important 200-day SMA and a short-term ascending trend-line supports are broken.

EUR/GBP 1-hourly chart

Spot rate: 0.8840
Daily High: 0.8850
Daily Low: 0.8837
Trend: Neutral

Resistance
R1: 0.8862 (overnight swing high)
R2: 0.8878 (R2 daily pivot-point)
R3: 0.8902 (near 4-month top set on Monday)

Support
S1: 0.8823 (200-day SMA)
S2: 0.8811 (S2 daily pivot-point)
S3: 0.8787 (100-day SMA)

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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