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28 Aug 2019
EUR/GBP technical analysis: Euro erases most of the daily gains against Sterling, trading sub-0.9067 level
- EUR/GBP is very volatile this Wednesday as the market almost reached the 0.9127 level.
- The key level to beat for bears is the 0.9050 support followed by the 0.9037 level.
EUR/GBP daily chart
The market has been retracing down in August after peaking at the 0.9326 level. EUR/GBP exchange rate almost hit the August 29, 2017 high at the 0.9307 level.
EUR/GBP 4-hour chart
The market is very volatile this Wednesday with big swings in both directions. EUR/GBP is trading below its main SMAs, suggesting a bearish bias in the medium term. Bears need to break 0.9050 support to reach 0.9037, 0.9020 and the 0.9007 levels to generate a selloff towards 0.8945, according to the Technical Confluences Indicator.
EUR/GBP 30-minute chart
EUR/GBP is challenging the 200 SMA suggesting a consolidation in the near term. Immediate resistances are seen at 0.9067 and 0.9081, according to the Technical Confluences Indicator.
Additional key levels