EURGBP Technical Analysis – June 9, 2021

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

The pair is currently trading near 0.86036, and multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 0.85950
  • Resistance level 2: 0.85850
  • Resistance level 3: 0.85650

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

  • Support level 1: 0.85950
  • Support level 2: 0.85850
  • Support level 3: 0.85650

The European Central Bank will announce the latest interest rate decision on Thursday. Higher interest rate will be beneficial to the Euro, so it is bullish to the EURGBP currency pair, 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 price.