EUR/GBP has dropped to a strong support area after rising for nearly 2 weeks. However, the current drop in the EURGBP pair’s price seems temporary. The intraday support levels are at 0.8771 and 0.8715. The near-term resistance areas are at 0.8931 and 0.9035. On the intraday charts, the EURGBP pair has multiple support levels that may help bulls make a recovery move.
EURGBP Technical Outlook
The Relative Strength Index Indicator (RSI), Stochastic, and Bollinger Bands (BB) are neutral. The Average True Range (ATR) Indicator shows low volatility while the MACD (Moving Average Convergence Divergence) is below the zero line.
|
Stochastic |
Bollinger Bands |
ATR |
MACD |
RSI |
|
Neutral (24) |
Neutral (0.8810) |
0.0104 (Volatility Down) |
Above Zero (0.0086) |
60 (Neutral) |
Using multiple technical indicators to analyze and Forecast the EURGBP or any other pair provides multiple confirmations helping to make more informed decisions and trade profitably.
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EUR/GBP Support and Resistance levels – Short-Term
|
S 1 |
S 2 |
S 3 |
R 1 |
R 2 |
R 3 |
|
0.8771 |
0.8715 |
0.8611 |
0.8931 |
0.9035 |
0.9091 |
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Pivot Points
|
1 hour |
4 hours |
Daily |
Weekly |
Monthly |
|
0.8809 |
0.8820 |
0.8875 |
0.8852 |
0.8548 |
EURGBP Trading Ranges
EUR/GBP Daily Trading Range: 0.8782 – 0.8850
EURGBP Weekly Trading Range: 0.8782 – 0.9269
EUR/GBP Monthly Trading Range: 0.8566 – 0.9269
EUR/GBP Yearly Trading Range: 0.8203 – 0.9269
Related Article: EUR/USD Daily Analysis and Trade Signal
EURGBP Trading Idea – 30-SEP-2022
Despite the drop in the EUR/GBP pair, the trend is bullish. The current price is near the strong support levels, and it is likely to make a recovery. Currently, the pair is ideal for buying entries using the following levels.
Signal Direction: BUY
Signal Timeframe: Daily
Entry: 0.8765
Stop-loss: 0.8659
Take Profit: 0.8871
EUR/GBP Upcoming Levels to Monitor
The bulls need a weekly closing above 0.8800 to keep control. Failing to achieve that will strengthen the bears, and the possibility of a breach below the current strong support levels will be high during the next week. On the downside, an intraday closing below 0.8740 will be a setback to the bulls.
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