EUR/GBP has taken a downturn, breaking below the nine-day EMA at 0.8539 level, indicating a short-term bearish trend. Despite this, the momentum indicator 14-day RSI suggests a bullish bias for the currency cross. The 14-day EMA at 0.8520 level could provide immediate support.
On Tuesday, during European trading hours, EUR/GBP retraced its recent gains. The daily chart analysis reveals the shift in trend with the break below the nine-day EMA. However, the RSI remains bullish, hinting at ongoing positive momentum. Resistance levels are set at 0.8624 and 0.8644, with further potential up to 0.8700 if breached. Support levels include the 14-day EMA at 0.8520 and the 50-day EMA at 0.8487.
EUR/GBP: Daily Chart Analysis
Euro Price Today
The table below displays the percentage change of Euro (EUR) against major currencies. Euro showed weakness against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | -0.18% | 0.37% | -0.04% | -0.17% | 0.19% | 0.27% | |
| EUR | -0.15% | -0.32% | 0.21% | -0.22% | -0.33% | -0.47% | 0.12% | |
| GBP | 0.18% | 0.32% | 0.55% | 0.12% | -0.01% | -0.13% | 0.47% | |
| JPY | -0.37% | -0.21% | -0.55% | -0.44% | -0.53% | -0.67% | -0.09% | |
| CAD | 0.04% | 0.22% | -0.12% | 0.44% | -0.12% | -0.26% | 0.33% | |
| AUD | 0.17% | 0.33% | 0.00% | 0.53% | 0.12% | -0.11% | 0.47% | |
| NZD | -0.19% | 0.47% | 0.13% | 0.67% | 0.26% | 0.11% | 0.59% | |
| CHF | -0.27% | -0.12% | -0.47% | 0.09% | -0.33% | -0.47% | -0.59% |
The heatmap illustrates the percentage changes of major currencies against each other, providing valuable insights for investors.
Analysis:
The EUR/GBP cross has entered a short-term bearish trend, confirmed by the break below the nine-day EMA. However, the bullish bias indicated by the RSI suggests potential for a reversal. Investors should closely monitor the support levels at 0.8520 and 0.8487, as well as the resistance levels at 0.8624 and 0.8644. Understanding these key levels can help investors make informed decisions regarding their EUR/GBP positions.