EUR/GBP Aims Higher
EUR/GBP is rising and might climb above the 0.8665 resistance.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is rising and trading above the 0.8650 zone.
· There was a break above a major bearish trend line with resistance near 0.8635 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a steady increase from the 0.8620 zone. The Euro traded above the 0.8635 pivot level to enter a positive zone against the British Pound.
Besides, there was a break above a major bearish trend line with resistance near 0.8635. The EUR/GBP chart suggests that the pair settled above the 50-hour simple moving average and 0.8650. Finally, it faced sellers near 0.8665.
It is now correcting gains and trading below the 23.6% Fib retracement level of the recent increase from the 0.8633 swing low to the 0.8664 high.
Immediate support sits near the 50% Fib retracement level of the recent increase from the 0.8633 swing low to the 0.8664 high at 0.8650. The next major support is near the 50-hour simple moving average at 0.8645.
The main support is 0.8635. A downside break below the 0.8635 support might call for more downsides. In the stated case, the pair could drop toward the 0.8620 support level.
Immediate resistance is near the recent high at 0.8665. The next major resistance could be 0.8680. A close above the 0.8680 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8720. Any more gains might send the pair toward the 0.8780 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
Important Takeaways for EUR/GBP Analysis Today
· EUR/GBP is rising and trading above the 0.8650 zone.
· There was a break above a major bearish trend line with resistance near 0.8635 on the hourly chart at FXOpen.
EUR/GBP Technical Analysis
On the hourly chart of EUR/GBP at FXOpen, the pair started a steady increase from the 0.8620 zone. The Euro traded above the 0.8635 pivot level to enter a positive zone against the British Pound.
Besides, there was a break above a major bearish trend line with resistance near 0.8635. The EUR/GBP chart suggests that the pair settled above the 50-hour simple moving average and 0.8650. Finally, it faced sellers near 0.8665.
It is now correcting gains and trading below the 23.6% Fib retracement level of the recent increase from the 0.8633 swing low to the 0.8664 high.
Immediate support sits near the 50% Fib retracement level of the recent increase from the 0.8633 swing low to the 0.8664 high at 0.8650. The next major support is near the 50-hour simple moving average at 0.8645.
The main support is 0.8635. A downside break below the 0.8635 support might call for more downsides. In the stated case, the pair could drop toward the 0.8620 support level.
Immediate resistance is near the recent high at 0.8665. The next major resistance could be 0.8680. A close above the 0.8680 level might accelerate gains. In the stated case, the bulls may perhaps aim for a test of 0.8720. Any more gains might send the pair toward the 0.8780 level.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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