EUR/GBP Technical Analysis: hits lowest since May 2017
- The EUR/GBP pair fell to 0.8616 yesterday, the lowest level since May 2017, pushing the 14-day relative strength index (RSI) into oversold territory for the first time since Oct. 10.
- The RSI on the hourly and 4-hour chart is also signaling oversold conditions.
- A minor bounce could be in the offing. The immediate outlook, however, would remain bearish while the pair held below the descending 10-day MA, currently at 0.8778.
Daily chart
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Trend: bearish but minor bounce likely
EUR/GBP
Overview:
Today Last Price: 0.863
Today Daily change: -0.0030 pips
Today Daily change %: -0.35%
Today Daily Open: 0.866
Trends:
Daily SMA20: 0.8904
Daily SMA50: 0.8929
Daily SMA100: 0.8882
Daily SMA200: 0.8867
Levels:
Previous Daily High: 0.8727
Previous Daily Low: 0.8651
Previous Weekly High: 0.8988
Previous Weekly Low: 0.8764
Previous Monthly High: 0.9089
Previous Monthly Low: 0.8863
Daily Fibonacci 38.2%: 0.868
Daily Fibonacci 61.8%: 0.8698
Daily Pivot Point S1: 0.8631
Daily Pivot Point S2: 0.8603
Daily Pivot Point S3: 0.8555
Daily Pivot Point R1: 0.8707
Daily Pivot Point R2: 0.8755
Daily Pivot Point R3: 0.8783