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EUR/GBP Price Analysis: Gains momentum, trades around six-month highs

  • EUR/GBP continues its bullish trajectory for the third day in a row, retreating slightly from the six-month high of 0.8765.
  • A significant break above the 200-day moving average has fueled the pair’s recent gains, with it up over 0.59% monthly.
  • On the downside, a EUR/GBP move below the Nov 14 low at 0.8688 could see the pair test the 200-day SMA, followed by the 50-day SMA at 0.8674.

The EUR/GBP pair advanced for the third day in a row, although it retreated from Thursday’s six-month high of 0.8765. On Friday, the pair traded at 0.8753, with gains of 0.14%, ahead of the weekend.

After breaking above the 200-day moving average (DMA), the pair has strongly extended its gains. Since the beginning of November, the pair has gained more than 0.59%, and buyers are targeting additional gains.

The next resistance level for the EUR/GBP pair lies at 0.8800, before reaching the May 3 high at 0.8834, and then challenging the February 17 daily high at 0.8928. Once broken, the next high would be the year-to-date high at 0.8978.

On the other hand, if EUR/GBP sellers drag prices below the last low reached on November 14 at 0.8688, the pair would fall towards the 200-day moving average (DMA), before challenging the 50-day moving average (DMA) at 0.8674.

EUR/GBP Price Analysis – Daily Chart

EUR/GBP technical levels

EUR/GBP

Overview
Latest price today 0.8754
Today I change daily 0.0013
Today’s daily variation 0.15
Today’s daily opening 0.8741
Trends
daily SMA20 0.8712
daily SMA50 0.8672
SMA100 daily 0.8626
SMA200 daily 0.8685
Levels
Previous daily high 0.8766
Previous daily low 0.8731
Previous weekly high 0.8756
Previous weekly low 0.865
Previous Monthly High 0.8754
Previous monthly low 0.8616
Daily Fibonacci 38.2 0.8753
Fibonacci 61.8% daily 0.8745
Daily Pivot Point S1 0.8726
Daily Pivot Point S2 0.8711
Daily Pivot Point S3 0.8691
Daily Pivot Point R1 0.8761
Daily Pivot Point R2 0.8781
Daily Pivot Point R3 0.8796

Source: Fx Street

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