5 Sep 2019
EUR/GBP technical analysis: Euro tumbles to its lowest since late July against Sterling
- EUR/GBP broke the key 0.9020 multi-week support level.
- The level to beat for sellers is the 0.8945 support.
EUR/GBP daily chart
The market has been retracing down sharply in August after peaking at the 0.9326 level. The EUR/GBP exchange rate broke a key multi-week support level at the 0.9020 price level.
EUR/GBP 4-hour chart
EUR/GBP is trading below the main SMAs, suggesting a bearish bias in the medium term. Bears brought the exchange rate to new multi-week lows. They need to overcome 0.8945 support if they want to extend the bear trend towards 0.8928 and 0.8886, according to the Technical Confluences Indicator.
EUR/GBP 30-minute chart
EUR/GBP is under bearish pressure below the main SMAs. Immediate resistances are seen at the 0.8959, 0.8979, 0.8994 and 0.9044 price levels, according to the Technical Confluences Indicator.
Additional key levels