EUR/GBP Technical Analysis: Euro trading down against GBP as ECB’s Draghi speaks at the press conference
EUR/GBP daily chart
- EUR/USD is trading in a bull trend above flat 50, 100 and 200-day simple moving averages.
- The ECB press conference at 13.30 GMT is providing volatility in the forex market.
EUR/GBP 4-hour chart
- EUR/GBP is testing the 50 SMA which can provide some short-term support.
EUR/GBP 30-minute chart
- As mentioned in the previous update, it was to be expected that the 200 SMA would not hold.
- While it is most likely the market will correct up towards 0.9000 in the short-term, the main bear target still remains the 0.8920 level.
Additional key levels
Today Last Price: 0.8961
Today Daily change: -14 pips
Today Daily change %: -0.156%
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