EURGBP Technical Analysis – July 19, 2021

EURGBP rose on Friday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 0.85900, and multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 0.85900
  • Resistance level 2: 0.86050
  • Resistance level 3: 0.86200

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 0.85660
  • Support level 2: 0.85500
  • Support level 3: 0.85350

On Thursday, the European Central Bank will announce the latest interest rate decision. Hawkish remarks and interest rate hike expectations indicate that it is beneficial to the Euro, so the EURGBP currency pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the EURGBP currency pair near the current level.