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6 May 2020
EUR/GBP New York Price Forecast: Euro confined in small ranges, trades near 0.8740 level
- EUR/GBP is trading sideways within familiar ranges.
- EUR/GBP is currently supported above the 0.8700 figure.
EUR/GBP four-hour chart
EUR/GBP is trading within familiar ranges as the spot is trading below the 0.8750 level and the 200 SMA on the four-hour chart. EUR/GBP is currently trading sideways with little to no directional bias. However, the overall bias remains tilted to the downside and a daily close below the 0.8700 figure can attract further selling. On the flip side, a break above 0.8800 figure can lead to more up.
Resistances: 0.8750, 0.8800, 0.8900
Support: 0.8700, 0.8650, 0.8700, 0.8600
Additional key levels