- EUR/GBP continues its bullish trajectory for the third day in a row, retreating slightly from the six-month high of 0.8765.
- A significant break above the 200-day moving average has fueled the pair’s recent gains, with it up over 0.59% monthly.
- On the downside, a EUR/GBP move below the Nov 14 low at 0.8688 could see the pair test the 200-day SMA, followed by the 50-day SMA at 0.8674.
The EUR/GBP pair advanced for the third day in a row, although it retreated from Thursday’s six-month high of 0.8765. On Friday, the pair traded at 0.8753, with gains of 0.14%, ahead of the weekend.
After breaking above the 200-day moving average (DMA), the pair has strongly extended its gains. Since the beginning of November, the pair has gained more than 0.59%, and buyers are targeting additional gains.
The next resistance level for the EUR/GBP pair lies at 0.8800, before reaching the May 3 high at 0.8834, and then challenging the February 17 daily high at 0.8928. Once broken, the next high would be the year-to-date high at 0.8978.
On the other hand, if EUR/GBP sellers drag prices below the last low reached on November 14 at 0.8688, the pair would fall towards the 200-day moving average (DMA), before challenging the 50-day moving average (DMA) at 0.8674.
EUR/GBP Price Analysis – Daily Chart
EUR/GBP technical levels
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
