EUR/GBP Technical Analysis: Struggling near 1-1/2 month lows, 200-DMA ahead of Carney/UK CPI
• Having faced rejection near the 0.9100 handle, the cross witnessed a sharp retracement and finally broke through a one-month-old consolidative range last Friday.
• The post-breakdown slide below 50% Fibonacci retracement level of the mid-Dec to early-Jan. upsurge has found some support at the very important 200-day SMA.
• Technical indicators on the daily chart maintain their bearish bias and are still far from being in the oversold territory, increasing prospects for further downside.
• The set-up clearly points to an extension of the recent downward trajectory towards testing 61.8% Fibonacci retracement level support en-route the 0.8800 handle.
EUR/GBP daily chart
Today Last Price: 0.8868
Today Daily change: 9.0 pips
Today Daily change %: 0.102%
Today Daily Open: 0.8859
Previous Daily SMA20: 0.8987
Previous Daily SMA50: 0.8924
Previous Daily SMA100: 0.8898
Previous Daily SMA200: 0.8864
Previous Daily High: 0.8988
Previous Daily Low: 0.8854
Previous Weekly High: 0.9062
Previous Weekly Low: 0.8923
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Previous Daily Fibonacci 38.2%: 0.8905
Previous Daily Fibonacci 61.8%: 0.8937
Previous Daily Pivot Point S1: 0.8813
Previous Daily Pivot Point S2: 0.8766
Previous Daily Pivot Point S3: 0.8679
Previous Daily Pivot Point R1: 0.8947
Previous Daily Pivot Point R2: 0.9034
Previous Daily Pivot Point R3: 0.9081