EUR/GBP Fluctuates, Faces Rejection at Level 0.9150
Login

EUR/GBP Fluctuates, Faces Rejection at Level 0.9150

Estimated Reading Time: 2 minutes

Azeez Mustapha

Updated:

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 bulls are retesting the resistance line to break above it. The upward move is hampered as the pair continues to face resistance. The price will fall if sellers resume selling. Alternatively, selling may resume if the pair reaches the previous high of level 0.9150.

EURGBP – Daily Chart

Daily Chart Indicators Reading:
The pair is at level 61 of the Relative Strength index period 14. This implies that the market is still 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. EUR/GBP is fluctuating between level 0.9080 and 0.9140. The bulls and bears are yet to break key levels as price continues to fluctuate. The pair has been trapped since July as it fails to trend.

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 70% range of the daily stochastic. It indicates that the market is approaching the overbought region. Sellers have emerged as the price action has indicated bearish signals.

General Outlook for EUR/GBP
The EUR/GBP pair has continued to fluctuate in a confined range. The bulls have reached the resistance line and are attempting to make a downward move. The pair will trend once the key levels are broken.

Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results



  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News