- The EUR/GBP pair maintains its bullish momentum and is trading at 0.8731, while consolidating the 0.8700 level as crucial support.
- The pair is showing a bullish bias, but failure to break above the 0.8755 high could invite bearish activity.
- Key levels to watch include resistance at 0.8800 and 0.8834, with support at the 200-DMA of 0.8688 and the 50-DMA of 0.8657.
He EUR/GBP rose during the Friday session, extending its recovery to five consecutive days, gaining 0.89% so far on the week, consolidating the psychological level of 0.8700 as solid support for the next week. At the time of writing, the pair is trading at 0.8731, up 0.13%.
The EUR/GBP pair is bullish, but downside risks remain. Unless buyers reclaim today’s high at 0.8755, bears are on the prowl. In case of a bullish resumption, the first resistance of the crossover would be the 0.8800 level, followed by the May 3 high at 0.8834, followed by the April 25 high at 0.8875.
Conversely, if EUR/GBP falls below 0.8700, the first support would be the 200-day moving average (DMA), previously broken at 0.8688, followed by the 50-DMA at 0.8657, before dipping to the latest low of the cycle at 0.8649.
EUR/GBP Price Analysis – Daily Chart
EUR/GBP technical levels
|Latest price today||0.8738|
|Today I change daily||0.0010|
|Today’s daily variation||0.11|
|Today’s daily opening||0.8728|
|Previous daily high||0.873|
|Previous daily low||0.8693|
|Previous weekly high||0.8754|
|Previous weekly low||0.8664|
|Previous Monthly High||0.8754|
|Previous monthly low||0.8616|
|Daily Fibonacci 38.2||0.8716|
|Fibonacci 61.8% daily||0.8707|
|Daily Pivot Point S1||0.8704|
|Daily Pivot Point S2||0.868|
|Daily Pivot Point S3||0.8667|
|Daily Pivot Point R1||0.8741|
|Daily Pivot Point R2||0.8754|
|Daily Pivot Point R3||0.8778|
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.