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Key Resistance Levels: 0.9200, 0.9400, 0.9600
Key Support Levels: 0.8800, 0.8600, 0.8400
EUR/GBP Price Long-term Trend: Bullish
The EUR/GBP pair is in an uptrend. The current uptrend is facing resistance at level 0.9140. The bulls retested the resistance twice before resuming a downward move. Buyers have been retesting the resistance zone since early July. A break above the current resistance will push the coin to rally above level 0.9200. The pair will continue to trade below the resistance if the resistance remains unbroken.
Daily Chart Indicators Reading:
The pair is at level 59 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 upward. It indicates the present upward move.
EUR/GBP Medium-term Trend: Ranging
On the 4-hour chart, the EUR/GBP pair is in a sideways move. The bulls have retested the resistance at 0.9140 before making a downward move. The pair will be compelled to a sideways move if the bulls fail to break the current resistance at 0.9140.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward indicating the uptrend. The pair is above 70% 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 facing resistance at level 0.9140. The pair may fluctuate between levels 0.9040 and 0.9140 if the bulls fail to break the resistance at 0.9140.
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