- EUR/GBP rises to 0.8724, up a slight 0.08% as it maintains momentum above the 200-day moving average.
- The pair’s advance slows down, indicated by a lower mean true range, which points to lower market volatility.
- The next bullish milestones lie at the recent high of 0.8754 and the psychological level of 0.8800, while a decline below 0.8700 could challenge the 200-DMA support.
The pair EUR/GBP It rebounds for the fourth consecutive day in the North American mid-session, gaining a minimum of 0.08% and trading at 0.8724 after hitting a daily minimum at 0.8693.
The pair is biased higher once it reclaimed the 200-day moving average (DMA) at 0.8687. However, the bullish trend appears to have lost some steam, as the average true range (ATR) at 37 points suggests that volatility is reducing.
For a bullish resumption, EUR/GBP buyers need to reclaim the October 11 high at 0.8754, followed by the 0.8800 figure. On the other hand, if the sellers intervene and pull the exchange rate below 0.8700, that would open the door to testing the 200-DMA at 0.8687, which would compound a drop to the 50-DMA at 0.8653.
EUR/GBP Price Analysis – Daily Chart
EUR/GBP technical levels
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.
