EUR/GBP Technical Analysis: Struggles to break through 200-hour SMA ahead of UK/Euro-zone PMIs
• The cross built on its goodish rebound from Friday's three-week lows, albeit struggled to extend the momentum further beyond 200-hour SMA, or the key 0.90 psychological mark.
• Mixed technical indicators on hourly charts haven't been supportive of the up-move and seemed to be the only factor capping gains near 61.8% Fibo. level of last week's sharp retracement slide.
• Meanwhile, oscillators on the daily chart maintain their bullish bias and support prospects for further gains, though bulls are likely to wait for a sustained move beyond the 0.9060 supply zone.
• Market players now look forward to the final Euro-zone PMI and the UK manufacturing PMI for some meaningful trading impetus on the first trading day of the New Year.
EUR/GBP 1-hourly chart
Today Last Price: 0.9002
Today Daily change: 10 pips
Today Daily change %: 0.111%
Today Daily Open: 0.8992
Previous Daily SMA20: 0.8992
Previous Daily SMA50: 0.8897
Previous Daily SMA100: 0.89
Previous Daily SMA200: 0.8852
Previous Daily High: 0.911
Previous Daily Low: 0.8979
Previous Weekly High: 0.9065
Previous Weekly Low: 0.8902
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Previous Daily Fibonacci 38.2%: 0.906
Previous Daily Fibonacci 61.8%: 0.9029
Previous Daily Pivot Point S1: 0.8944
Previous Daily Pivot Point S2: 0.8896
Previous Daily Pivot Point S3: 0.8813
Previous Daily Pivot Point R1: 0.9076
Previous Daily Pivot Point R2: 0.9159
Previous Daily Pivot Point R3: 0.9207