EUR/GBP Continues its Ascendancy, Eyeing Key Resistance Levels
The EUR/GBP has shown remarkable strength, marking its fourth consecutive day of gains as it surpassed the crucial 50-day Simple Moving Average (SMA) at 0.8359, currently trading at 0.8373.
Key Technical Levels to Watch
- Immediate Resistance: The pair is now aiming for the 0.8400 resistance level.
- Further Upside Targets: If the 0.8400 level is breached, next key levels to watch include the 100-day SMA at 0.8413 and the October 31 high of 0.8448.
- Downside Risks: In case of a pullback, a decline below 0.8359 could lead to consolidation or a retest of the 0.8260 support level.
Technical Outlook for EUR/GBP
Having bounced back from a year-to-date low of 0.8260, the EUR/GBP has displayed strength by clearing the 0.8300 mark and breaking above the 50-day SMA at 0.8359. The path seems clear for a test of the 0.8400 resistance level, with potential targets at 0.8413 and 0.8448 if bullish momentum persists.
On the flip side, a drop below the 50-day SMA at 0.8359 might lead to consolidation within the 0.8300-0.8359 range, with a more significant decline opening the door to retest the 0.8260 support level.
Indicators such as the Relative Strength Index (RSI) suggest a bullish bias, with buyers gaining control after crossing above the 50 neutral line.
EUR/GBP Price Chart – Daily
Euro Price Today
The table below displays the percentage change of the Euro (EUR) against major currencies, highlighting its strength against the British Pound (GBP) today.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.33% | 0.11% | -0.57% | -0.32% | -0.19% | -0.18% | -0.35% | |
| EUR | -0.33% | 0.29% | -0.42% | -0.14% | -0.18% | -0.15% | -0.35% |
The heat map illustrates percentage changes of major currencies against each other, providing valuable insights into currency movements for traders and investors.
Stay tuned for further updates on the EUR/GBP pair as it continues its journey towards key resistance levels.