- EUR/GBP falls below the 20-day EMA, aiming to extend the downtrend towards 0.8700.
- If EUR/GBP breaks below 0.8744, it will expose crucial supports around 0.8736, 0.8700 and the S3 pivot at 0.8671.
EUR/GBP is on the defensive, falling for the first time in six days amid risk momentum weighing on the shared currency. At the time of writing, the EUR/GBP is trading at 0.8756, below its opening price, after hitting a daily high of 0.8807.
EUR/GBP price forecast
The daily chart of the EUR/GBP shows that the pair faced strong resistance at the 20-day EMA at 0.8783, which was broken briefly, however, the pair pulled back, and is trading around the lows of 10-Oct. . Therefore, EUR/GBP is range bound, with price action contained between yesterday’s high and low, but as it printed a fresh 3-day low, the path of least resistance is to the downside. A break below 0.8744 could drop the pair towards 0.8725, ahead of the 0.8700 signal.
On the one hour time frame, the EUR/GBP is range bound, although price action is below the 20, 50, 100 and 200 EMAs, with everything trapped in the 0.8760-0.8777 range. Although the Relative Strength Index (RSI) is below the 50 midline, unless EUR/GBP decisively breaks below 0.8736, daily low of Oct 7, it is likely to remain weak.
If the above scenario holds, the next EUR/GBP support would be 0.8700, followed by the S3 daily pivot at 0.8671.
EUR/GBP Key Technical Levels
EUR/GBP
Overview | |
---|---|
last price today | 0.8756 |
daily change today | -0.0015 |
Today’s daily variation in % | -0.17 |
Daily opening today | 0.8772 |
Trends | |
---|---|
daily SMA20 | 0.8782 |
daily SMA50 | 0.8618 |
daily SMA100 | 0.8573 |
daily SMA200 | 0.8477 |
levels | |
---|---|
Previous daily high | 0.8814 |
Previous Daily Low | 0.8745 |
Previous Weekly High | 0.8831 |
Previous Weekly Low | 0.8649 |
Previous Monthly High | 0.9254 |
Previous Monthly Low | 0.8566 |
Daily Fibonacci of 38.2% | 0.8771 |
Daily Fibonacci of 61.8% | 0.8788 |
Daily Pivot Point S1 | 0.874 |
Daily Pivot Point S2 | 0.8708 |
Daily Pivot Point S3 | 0.8672 |
Daily Pivot Point R1 | 0.8809 |
Daily Pivot Point R2 | 0.8846 |
Daily Pivot Point R3 | 0.8877 |
Source: Fx Street

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