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EUR/GBP Technical Analysis: EUR/GBP finds some support after two day-decline

  • EUR/GBP is trying to found some support above the 0.8900 figure after two corrective days. 
  • EUR/GBP is trading above its 50 and 100-period simple moving average (SMA) on the 15-minute chart but bulls would need a cross-over of the 50 SMA above the 100 and 200 SMA in order to confirm the resumption of the bull trend. In addition, a breakout above the bearish trendline and 0.8957/67 area would further confirm the bullish bias. 
  • Supports are seen near 0.8900 and 0.8868, 13 July high. 

EUR/GBP 15-minute chart 

EUR/GBP daily chart

Spot rate:                0.8933

Relative change:     0.00%     
High:                       0.8948
Low:                        0.8912

Main Trend:            Bullish

Resistance 1:         0.8937 July 31 high
Resistance 2:         0.8957/67 area, July 20 high and March 7 high 
Resistance 3:         0.9019 August 9 high
Resistance 4:         0.9109 September 8, 2017 low
Resistance 5:         0.9160 August 23, 2017 low

Support 1:              0.8920 supply level
Support 2:              0.8900 July 9 high
Support 3:              0.8868, 13 July high
Support 4:              0.8840 supply level
Support 5:              0.8820-0.8840 area, 200-day SMA 
Support 6:              0.8800 figure
Support 7:              0.8780 daily 50-period SMA
Support 8:              0.8764 June 8 low 

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