- EUR/GBP snaps a two-day winning run earlier in the day but recovers later.
- The pair pulls back from 0.9154 resistance level.
- MACD indicator stays bullish, not helping sellers much.
- 21-day EMA acts as resistance.
Bears in EUR/GBP couldn’t sustain the morning edge, and the pair was trading around 0.9160 ahead of the European trading today. EUR/GBP fell from 21-day simple moving average during the early Asian session.
The falling trendline from September 11 might question bullish strength. And, another resistance of note is the June month’s high near 0.9175 and above which 0.9200 will test buyers.
A daily close above 0.9210 – an area near the low of September 10, can help bulls to attack the monthly high of 0.9291 in EUR/GBP.
Support area around 0.9140 – marketing multiple highs in late-July ahead of the 21-day SMA near 0.9090 helps the bulls against the bears.
August high of 0.9070, along with 50-60 Percent Fibonacci retracement of April-September upside, near 0.8980-0.8910 are hindrances for the bears.