EUR/GBP Technical Analysis: Rallies to 0.8900 handle, move beyond monthly tops remain elusive
• Having formed a firm base near 100-hour SMA, the cross caught some aggressive bids and rallied back above the 0.8900 handle.
• A decisive breakthrough 200-hour SMA was seen as a key trigger for bullish traders and behind the pair's latest leg of a sudden upsurge.
• Momentum oscillators on 4-hourly/daily charts maintained their bullish bias but RSI on the 1-hourly chart has already moved into overbought zone.
• Hence, bulls might find it difficult to make it beyond a downward sloping trend-line resistance, extending through Oct./Nov. monthly swing highs.
EUR/GBP 1-hourly chart
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EUR/GBP
Overview:
Today Last Price: 0.8906
Today Daily change: 42 pips
Today Daily change %: 0.474%
Today Daily Open: 0.8864
Trends:
Previous Daily SMA20: 0.8804
Previous Daily SMA50: 0.8831
Previous Daily SMA100: 0.8884
Previous Daily SMA200: 0.8836
Levels:
Previous Daily High: 0.8878
Previous Daily Low: 0.881
Previous Weekly High: 0.8934
Previous Weekly Low: 0.8839
Previous Monthly High: 0.8942
Previous Monthly Low: 0.8722
Previous Daily Fibonacci 38.2%: 0.8836
Previous Daily Fibonacci 61.8%: 0.8852
Previous Daily Pivot Point S1: 0.8824
Previous Daily Pivot Point S2: 0.8783
Previous Daily Pivot Point S3: 0.8756
Previous Daily Pivot Point R1: 0.8891
Previous Daily Pivot Point R2: 0.8918
Previous Daily Pivot Point R3: 0.8959