EUR/GBP Technical Analysis: Retreats farther from over 4-month peak set on Friday

Haresh Menghani FXStreet

• The pair's early uptick met with some fresh supply near 50-hour SMA, with bears now looking to extend last week's retracement slide from over four-month tops.

• Short-term technical indicators are gradually picking up negative momentum and a follow-through weakness below 100-hour SMA will reinforce prospects for additional weakness.

• Only a sustained move beyond daily swing high might negate the negative outlook and pave the way for the resumption of the prior appreciating move.

EUR/GBP 1-hourly chart

Spot rate: 0.8920
Daily High: 0.8936
Trend: Short-term bearish

Resistance
R1: 0.8636 (current day swing high)
R2: 0.8975 (R2 daily pivot-point)
R3: 0.9000 (psychological round figure mark)

Support
S1: 0.8910 (S1 daily pivot-point)
S2: 0.8874 (last Thursday's swing low)
S3: 0.8820 (200-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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Breaking: US and Israel attack Iran, risk aversion to sweep global markets

Early Saturday, United States (US) President Donald Trump announced that the US had begun “major combat operations” in Iran, following Israel’s pre-emptive missile attacks against Tehran.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.