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 trend. The market has risen to level 0.90728 but has continued to fluctuate between level 90200 and 90800 since May. The price has fallen to level 90362 and it is expected to rise.
Daily Chart Indicators Reading:
The 50-day SMA and 21-day SMA are sloping upward. It indicates that the pair is in an uptrend. The market has risen to level 60 of the Relative Strength Index period 14. It implies that the market is in the uptrend zone and above the centerline 50.
EUR/GBP Medium-term Trend: Bullish
On the 4-hour chart, the pair was earlier in a sideways trend. It has been fluctuating between level 0.90200 and 0.90800. EUR/GBP is rising and approaching level 90362. It is likely to make a retest of the upper price range.
4-hour Chart Indicators Reading
The 50-day and 21-day SMAs are sloping upward. It indicates that the market is in an upward move. The pair is below 40% range of the daily stochastic. It implies that the market is in a bearish momentum. However, it is contrary to the price action which indicates a bullish signal.
General Outlook for EUR/GBP
The EUR/GBP pair is now in a sideways trend. It is currently fluctuating between level 90200 and 90800. The market is rising toward the upper price range. When price reaches level 90800, it will make a downward move.
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