EUR/GBP Technical analysis: Testing 5-week rising trendline

  • EUR/GBP is currently trading just above the support of the trendline connecting the Nov. 13 and Dec. 7 lows.
  • Acceptance below that trendline would imply that the rally from the Nov. 13 low of 0.8656 has ended. A bearish reversal, however, would be confirmed, if and when, the pair violates the higher low pattern with a move below 0.8952.
  • On the higher side, a strong bounce from the ascending trendline could end up recharging engines for a re-test of the recent high of 0.9087.
  • The key MAs - 50, 100 and 200 - are trending north and are located one above the other. So, the pair is more likely to see a strong bounce from the ascending trendline support.

4-Hour Chart

Trend: Bullish                   

EUR/GBP

Overview:
    Today Last Price: 0.8991
    Today Daily change: -4.0 pips
    Today Daily change %: -0.0445%
    Today Daily Open: 0.8995
Trends:
    Previous Daily SMA20: 0.8925
    Previous Daily SMA50: 0.8849
    Previous Daily SMA100: 0.8893
    Previous Daily SMA200: 0.8841
Levels:
    Previous Daily High: 0.9009
    Previous Daily Low: 0.8966
    Previous Weekly High: 0.9089
    Previous Weekly Low: 0.8952
    Previous Monthly High: 0.8932
    Previous Monthly Low: 0.8656
    Previous Daily Fibonacci 38.2%: 0.8993
    Previous Daily Fibonacci 61.8%: 0.8982
    Previous Daily Pivot Point S1: 0.8971
    Previous Daily Pivot Point S2: 0.8947
    Previous Daily Pivot Point S3: 0.8928
    Previous Daily Pivot Point R1: 0.9014
    Previous Daily Pivot Point R2: 0.9033
    Previous Daily Pivot Point R3: 0.9057

                   

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.