- The EUR/GBP is quoting on the side, but the technical indicators suggest a possible change in trend.
- Peter Kazimir’s comments, from the ECB, have provided some fundamental support to the euro.
- EUR/GBP: The key resistance is located in the 0.8460 area.
The euro is quoting practically flat, just above the round level of 0.8400 for the fourth consecutive day on Monday. The 4-hour RSI is flat at level 50, but a possible bullish-shower-hombro pattern, along with the upward divergence in the RSI, suggests that the negative cycle from the maximums of April 10 could have ended.
In the absence of relevant macroeconomic figures, the comments of the BCE official, Peter Kazimir, have resonated with the aggressive tone of President Lagarde after the meeting last week, generating doubts about greater relief this year. This will probably provide some support to the euro.
Euro price today
The lower table shows the percentage of euro change (EUR) compared to the main currencies today. Euro was the strongest currency against the US dollar.
| USD | EUR | GBP | JPY | CAD | Aud | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.17% | -0.22% | -0.38% | -0.12% | -0.42% | -0.61% | -0.12% | |
| EUR | 0.17% | -0.06% | -0.21% | 0.09% | -0.22% | -0.45% | 0.04% | |
| GBP | 0.22% | 0.06% | -0.06% | 0.12% | -0.14% | -0.38% | 0.11% | |
| JPY | 0.38% | 0.21% | 0.06% | 0.26% | -0.10% | -0.29% | 0.13% | |
| CAD | 0.12% | -0.09% | -0.12% | -0.26% | -0.33% | -0.50% | -0.02% | |
| Aud | 0.42% | 0.22% | 0.14% | 0.10% | 0.33% | -0.22% | 0.26% | |
| NZD | 0.61% | 0.45% | 0.38% | 0.29% | 0.50% | 0.22% | 0.49% | |
| CHF | 0.12% | -0.04% | -0.11% | -0.13% | 0.02% | -0.26% | -0.49% |
The heat map shows the percentage changes of the main currencies. The base currency is selected from the left column, while the contribution currency is selected in the upper row. For example, if you choose the euro of the left column and move along the horizontal line to the US dollar, the percentage change shown in the box will represent the EUR (base)/USD (quotation).
Technical analysis: EUR/GBP faces a key resistance at 0.8460
From a technical perspective, the aforementioned bullish divergence suggests that bassists are losing strength, although the pair should overcome 0.8450-0.8460 to confirm a significant correction. This is a previous support, now converted into resistance, and the neck line of an inverted shoulder pattern.
Yes that
CEDE level, the measured objective of shoulder formation is at the maximum of April 25 and 30 and May 2, in the 0.8540 area. Then, the maximum of April 21, at 0.8620.
In the lower part, a bearish reaction below 0.8360 cancels this vision and increases the pressure towards 0.8325 (minimum of April 3) and the minimum key of the year until the date of 0.8245.
EUR/GBP daily graph
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.
