EUR/GBP Technical Analysis: Bulls guarding 200-hour EMA/61.8% Fibo. level confluence support ahead of ECB presser
• The cross extended this week's retracement slide from over three-month tops and traded with a mild negative bias for the second consecutive session.
• The corrective slide now seemed to show some resilience ahead of 61.8% Fibonacci retracement level of the 0.8890-0.9087 latest leg of an upsurge.
• The mentioned support also coincides with 200-hour EMA and should now act as a key pivot-point/trigger for short-term/intraday traders.
• Technical indicators on the hourly charts have already drifted into negative territory and points to an additional long-unwinding pressure.
• However, bullish oscillators on the daily chart support prospects for some dip-buying interest to emerge at lower levels and thus, help limit downside.
EUR/GBP 1-hourly chart
Today Last Price: 0.8982
Today Daily change: 7.0 pips
Today Daily change %: 0.0780%
Today Daily Open: 0.8975
Previous Daily SMA20: 0.8912
Previous Daily SMA50: 0.8838
Previous Daily SMA100: 0.889
Previous Daily SMA200: 0.8841
Previous Daily High: 0.9072
Previous Daily Low: 0.8968
Previous Weekly High: 0.897
Previous Weekly Low: 0.8863
Previous Monthly High: 0.8932
Previous Monthly Low: 0.8656
Previous Daily Fibonacci 38.2%: 0.9008
Previous Daily Fibonacci 61.8%: 0.9032
Previous Daily Pivot Point S1: 0.8938
Previous Daily Pivot Point S2: 0.8902
Previous Daily Pivot Point S3: 0.8835
Previous Daily Pivot Point R1: 0.9042
Previous Daily Pivot Point R2: 0.9109
Previous Daily Pivot Point R3: 0.9145