EUR/GBP Technical Analysis: Slips below 0.8670 horizontal support, seems vulnerable to retest Jan. swing lows
• The cross failed to capitalize on the early uptick to 50-hour SMA and dropped to fresh monthly lows in reaction to the disappointing Euro-zone manufacturing PMI prints.
• The downward momentum dragged the cross below horizontal support and thus, paves the way for further declines back towards Jan. swing lows, around the 0.8620-15 region.
• Given that the cross remains well below its important intraday moving averages - 50, 100 & 200-hour SMAs, bearish technical indicators further add credence to the negative outlook.
EUR/GBP 1-hourly chart
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EUR/GBP
Overview:
Today Last Price: 0.8669
Today Daily change %: -0.20%
Today Daily Open: 0.8686
Trends:
Daily SMA20: 0.8744
Daily SMA50: 0.8866
Daily SMA100: 0.8852
Daily SMA200: 0.8864
Levels:
Previous Daily High: 0.8716
Previous Daily Low: 0.8673
Previous Weekly High: 0.8842
Previous Weekly Low: 0.8743
Previous Monthly High: 0.9119
Previous Monthly Low: 0.8617
Daily Fibonacci 38.2%: 0.8699
Daily Fibonacci 61.8%: 0.8689
Daily Pivot Point S1: 0.8668
Daily Pivot Point S2: 0.8649
Daily Pivot Point S3: 0.8626
Daily Pivot Point R1: 0.871
Daily Pivot Point R2: 0.8734
Daily Pivot Point R3: 0.8752