The EUR/GBP rose earlier today to the key 0.9060 resistance area but then reversed sharply, falling more than a hundred pips. It recently printed a fresh 3-day low at 0.8947. It remains under intense pressure testing a critical support area.
The move lower took place amid a stronger pound on European hours on the back of the latest Brexit rumors and more recently by a slide of the euro across the board. EUR/USD fell below 1.1500 and tumbled to 1.1457 in a few minutes while EUR/CHF erased most of yesterday’s gains and dropped more 50 pips from the high, pulling back under 1.1300.
EUR/GBP Levels to watch
To the downside, the immediate support is seen at 0.8940/50. It is a crucial support level and the lower bound of the trading range that has been in place since early December. A consolidation below would signal further losses and a test of 0.8900.
If the euro manages to hold on top of 0.8940/50, it could continue to trade in the consolidation range, turning slowly to the upside. Resistance levels from current price are seen at 0.8960, followed by 0.8985 and then 0.9005. The critical level continues to be 0.9060, tested earlier today. A daily close significantly on top, would clear the way to more gains in the medium term.
Today Last Price: 0.8951
Today Daily change: -70 pips
Today Daily change %: -0.776%
Today Daily Open: 0.9021
Previous Daily SMA20: 0.9001
Previous Daily SMA50: 0.8915
Previous Daily SMA100: 0.8903
Previous Daily SMA200: 0.8861
Previous Daily High: 0.9061
Previous Daily Low: 0.9012
Previous Weekly High: 0.9119
Previous Weekly Low: 0.8927
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Previous Daily Fibonacci 38.2%: 0.9031
Previous Daily Fibonacci 61.8%: 0.9042
Previous Daily Pivot Point S1: 0.9002
Previous Daily Pivot Point S2: 0.8982
Previous Daily Pivot Point S3: 0.8953
Previous Daily Pivot Point R1: 0.9051
Previous Daily Pivot Point R2: 0.908
Previous Daily Pivot Point R3: 0.91