EUR/GBP Consolidates Sideways Between Levels 0.8900 and 0.9150

EUR/GBP Consolidates Sideways Between Levels 0.8900 and 0.9150

Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400

EUR/GBP Price Long-term Trend: Ranging
The EUR/GBP pair is in a sideways move. The market is fluctuating between levels of 0.8900 and 0.9100. The bulls have tested level 0.9100 on more than three occasions but without success. The pair is now trading below the resistance.

EUR/GBP – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 58 of the Relative Strength index period 14. This implies that the market is in the uptrend zone and above the centerline 50. The 50-day SMA and 21-day SMA are sloping horizontally. It indicates the present sideways move.

EUR/GBP Medium-term Trend: Ranging
On the 4-hour chart, the EUR/GBP pair is in a sideways move. The price is currently fluctuating between levels of 0.9000 and 0.91500. EUR/GBP has tested the resistance zone but pulled back to level 0.9089. It is presently consolidating in the middle of the price range.

EUR/GBP – 4 Hour Chart

4-hour Chart Indicators Reading
The 50-day and 21-day SMA are sloping horizontally indicating the sideways move. The pair is above 60% range of the daily stochastic. It indicates that the market is in a bullish momentum.

General Outlook for EUR/GBP
The EUR/GBP is presently consolidating above level 0.9089. The pair is in a sideways trend. The upward move is facing resistance at the 0.9150 price level. The downtrend is also repelled at a level of 0.9000 price level.


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