- The euro weakened after the European Central Bank meeting.
- EUR / GBP is having the worst week in a month, after failing to stay above 0.8600.
- Risks continue to favor the pound, but strong support emerges around 0.8450.
EUR / GBP fell to 0.8519 on Friday, the lowest level in three weeks, before rebounding above 0.8530. The area around 0.8530 is the key short-term support, with a consolidation below that area opening the doors to 0.8505.
The weekly chart shows that the euro is again rejected above the 0.8600 surface and also the 20-week moving average. The bias continues to favor the decline. Below 0.8500 the downward pressure could increase, exposing the 0.8450 zone. The area around 0.8470 is a strong barrier.
To the upside, a weekly close clearly above 0.8600 should strengthen the outlook for the euro, pointing to further gains, initially targeting levels above 0.8700.
EUR/GBP Weekly Chart
EUR/GBP
Overview | |
---|---|
Today last price | 0.8538 |
Today’s Daily Change | -0.0010 |
Today daily change% | -0.12 |
Today they open every day | 0.8548 |
Trends | |
---|---|
Daily SMA20 | 0.8562 |
SMA50 daily | 0.8549 |
SMA100 daily | 0.8583 |
SMA200 daily | 0.8686 |
Levels | |
---|---|
Previous Daily High | 0.8588 |
Previous Daily Low | 0.8524 |
Previous weekly high | 0.8603 |
Previous Weekly Low | 0.8562 |
Previous monthly maximum | 0.8599 |
Previous Monthly Low | 0.845 |
Daily Fibonacci 38.2% | 0.8549 |
Daily Fibonacci 61.8% | 0.8564 |
Daily Pivot Point S1 | 0.8518 |
S2 daily pivot point | 0.8489 |
S3 Daily Pivot Point | 0.8453 |
R1 daily pivot point | 0.8583 |
Daily pivot point R2 | 0.8618 |
R3 daily pivot point | 0.8648 |
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