EUR/GBP Technical Analysis: Euro bulls knocking at the 0.8847 resistance once again

  • EUR/GBP is attempting to break above the 0.8847 resistance and the 200-period simple moving average on the 4-hour chart. 
  • EUR/GBP has been gaining strength since October 10 as technical indicators are in bullish territories. 
  • A break above 0.8847 would open the gates to 0.8900 figure. On the flip side, a break below 0.8800 would likely see the resumption of the bear trend.  

EUR/GBP 4-hour chart

Spot rate:                0.8841
Relative change:     0.08%     
High:                       0.8849
Low:                        0.8815

Main Trend:            Neutral

Resistance 1:         0.8847 September 20 low 
Resistance 2:         0.8876 September 11 low
Resistance 3:         0.8900 figure 
Resistance 4:         0.9000 figure

Support 1:              0.8800 figure
Support 2:              0.8752 October 16 low
Support 3:              0.8722 October low

BoC: Hawkish tone gives a strong indication that rates will rise again early next year - RBC

Josh Nye, Senior Economist at RBC Capital Markets, points out that the tone of the Bank of Canada was more hawkish than expected today. The central ba
Mehr darüber lesen Previous

Gold marginally higher for the day, consolidates near $1,230

Gold prices are about to post a modest the second daily gain in-a-row but the bullish tone eased amid risk aversion. The price peaked during the Asian
Mehr darüber lesen Next