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22 Oct 2019
EUR/GBP technical analysis: Euro off monthly lows, trading above the 0.8600 handle
- EUR/GBP remains under bearish pressure hovering near levels not seen since May 2019.
- The level to beat for sellers is the 0.8575 support.
EUR/GBP daily chart
EUR/GBP, on the daily chart, is trading in a downtrend below the main daily simple moving averages (DSMAs). In the last weeks of trading, the optimism of a Brexit deal drove the market below the 0.8600 handle.
EUR/GBP four-hour chart
EUR/GBP is trading below the main SMAs, suggesting bearish momentum in the medium term. A daily close below the 0.8575 support can potentially lead to the 0.8500 handle on the way down, according to the Technical Confluences Indicator.
EUR/GBP 30-minute chart
EUR/GBP is challenging the 200 SMA, suggesting a consolidation in the near term. Resistances can be seen at the 0.8625 and 0.8650 price levels, according to the Technical Confluences Indicator.
Additional key levels