EUR/GBP Is in an Uptrend, Reaches Resistance at Level 0.9050
Login

EUR/GBP Is in an Uptrend, Reaches Resistance at Level 0.9050

Estimated Reading Time: 2 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

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: Bullish
The pound has been in a sideways move since December. Today, the Pound is moving upward after falling to the low of level 0.8942. It is unclear whether the upward move will continue as the price continues to fluctuate.

EUR/GBP – Daily Chart

Daily Chart Indicators Reading:
The 50-day and 21-day SMAs are sloping horizontally. The pair is at level 49 of the Relative Strength Index period 14. The pound is below the centerline 50. It also indicates that there is a balance between supply and demand.

EUR/GBP Medium-term Trend: Bullish
On the 4-hour chart, the EUR/GBP pair is on an upward move. On January 4 uptrend; a retraced candle body tested the 61.8% Fibonacci retracement level. This retracement indicates that the pound will rise to level 1.618 Fibonacci extension level. That is the low of 0.90234. The price has already been tested and reached that level.

EUR/GBP – 30 Min Chart

4-hour Chart Indicators Reading
The 50-day SMA and 21-day SMA are sloping upward. The pair is above the 80% range of the daily stochastic. It indicates that the Pound is in bullish momentum and now in the overbought region.

General Outlook for EUR/GBP
The Pound has been fluctuating since December. Today, the market is moving upward. The pound has reached the target price of level 0.90234. There are chances of a further upward move.

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