- The EUR / GBP is moving within a choppy range between 0.9120 and 0.9100.
- The three-week-old uptrend line and the 200-period SMA will test the bears.
- Mixed UK employment data does little to influence or provide a significant boost to the pair.
The EUR / GBP cross remains within a range of about 20 pips, between 0.9120 and 0.9100, at the beginning of the European session on Tuesday and has had a rather moderate reaction to the release of the UK macroeconomic data.
EUR / GBP price action is moving above the three-week-old trend line that favors EUR / GBP buyers.
Looking up, the one-week horizontal resistance line near 0.9145 offers an immediate bullish obstacle, before the EUR / GBP bulls target the monthly high near 0.9230.
During the move to the upside, the round level 0.9200 may offer additional resistance.
On the other hand, a downside break below the support of the mentioned uptrend, now 0.9045, will shift the market’s attention to the 200-period SMA around the 0.8995 region.
In the event that the bears succeed in dragging the EUR / GBP below that level, the monthly low of 0.8930 will become their new target.
EUR / GBP 4-hour chart
EUR / GBP technical levels
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