EUR/GBP technical analysis: Euro decelerates against the Pound to 0.8930

• EUR/GBP retraces down to the 0.8912 support and the 200 SMA on the 30-minute chart.
• The level to beat for bulls is 0.8951 and 0.8969 according to the Technical Confluences Indicator.

EUR/GBP daily

EUR/GBP is in a bull trend above its main simple moving averages (SMAs). The market attempted to break above Monday high but is currently under pressure on an intraday basis.

EUR/GBP 4-hour chart

The bull channel is intact above the main simple moving averages (SMAs). The market is currently pulling back towards 0.8900 and the 50 SMA.

EUR/GBP 30-minute chart

EUR/GBP is trading above 0.8912 support and its main SMA suggesting bullish momentum. According to the Technical Confluences Indicator, 0.8912 is a cluster level with the 50 SMA on the 4-hour chart, the weekly Fibonacci of 38.2% and the 5 SMA on the daily chart. Further down lies 0.8897 (the weekly Fibonacci of 61.8%, the 10-day SMA and the previous day low). Strong support is seen at 0.8878 (100 SMA on the 4-hour chart, previous month high and daily Pivot Point S2.) 

Resistance is seen at 0.8951 (the 100 SMA on the 15-minute chart, the upper Bollinger Band on the daily chart and 15-minute chart). Further up, strong resistance is seen at 0.8969 (the weekly Pivot Point R2 and the daily Pivot Point R1).

Additional key levels