EUR/GBP Technical Analysis: Bulls defend ascending channel support, now eyeing a move beyond 0.8800 handle ahead of BoE
• The cross once again showed some resilience below 100-hour SMA and quickly reversed an early Asian session dip to the lower end of a short-term ascending trend-channel.
• With technical indicators on hourly charts holding in the bullish territory, a follow-through up-move back above the 0.8800 handle should pave the way for additional gains.
• However, oscillators on the daily chart have been struggling to gain traction on the daily chart and thus, warrant some caution for bullish traders ahead of BoE Super Thursday.
EUR/GBP 1-hourly chart
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EUR/GBP
Overview:
Today Last Price: 0.8796
Today Daily change %: 0.09%
Today Daily Open: 0.8788
Trends:
Daily SMA20: 0.879
Daily SMA50: 0.8905
Daily SMA100: 0.8868
Daily SMA200: 0.8866
Levels:
Previous Daily High: 0.8818
Previous Daily Low: 0.8772
Previous Weekly High: 0.8795
Previous Weekly Low: 0.8636
Previous Monthly High: 0.9119
Previous Monthly Low: 0.8617
Daily Fibonacci 38.2%: 0.879
Daily Fibonacci 61.8%: 0.88
Daily Pivot Point S1: 0.8768
Daily Pivot Point S2: 0.8748
Daily Pivot Point S3: 0.8723
Daily Pivot Point R1: 0.8813
Daily Pivot Point R2: 0.8838
Daily Pivot Point R3: 0.8858