Apr 17, 2019
EUR/GBP Technical Analysis: Make-or-Break near 0.8680 resistance
- EUR/GBP is trading in a bear trend below its 100 and 200 simple moving averages (SMAs).
- EUR/GBP is approaching the 0.8700 figure as the market is trading above its 50 SMA.
EUR/GBP 4-hour chart
- EUR/GBP formed a wedge pattern as bulls are still in charge.
EUR/GBP 30-minute chart
- EUR/GBP is consolidating in a small triangle above its main SMAs.
- A bull breakout above 0.8680 can lead all the up to 0.8720 resistance.
- Alternatively, if bears take the lead support is initially seen at 0.8650/40 and then at the 0.8610 level.
Additional key levels