{"id":612546,"date":"2023-02-27T23:02:00","date_gmt":"2023-02-28T05:02:00","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/02\/27\/eur-gbp-price-analysis-bears-occupy-drivers-seat-around-0-8800-threshold\/"},"modified":"2023-02-27T23:02:00","modified_gmt":"2023-02-28T05:02:00","slug":"eur-gbp-price-analysis-bears-occupy-drivers-seat-around-0-8800-threshold","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/02\/27\/eur-gbp-price-analysis-bears-occupy-drivers-seat-around-0-8800-threshold\/","title":{"rendered":"EUR\/GBP Price Analysis: Bears occupy driver\u2019s seat around 0.8800 threshold"},"content":{"rendered":"<div id=\"fxs_article_body\">\n<ul>\n<li><strong>EUR\/GBP holds lower ground at monthly bottom, extends pullback from 50-DMA.<\/strong><\/li>\n<li><strong>Lower-high formation keeps sellers hopeful amid bearish MACD signals.<\/strong><\/li>\n<li><strong>2.5-month-old ascending support line, 100-DMA lures bears during further downside.<\/strong><\/li>\n<li><strong>Bulls need validation from three-week-long falling resistance line.<\/strong><\/li>\n<\/ul>\n<p><a href=\"https:\/\/www.fxstreet.com\/currencies\/eurgbp\">EUR\/GBP<\/a> remains depressed around 0.8790, refreshing the monthly low, as traders brace for Tuesday\u2019s European session. In doing so, the cross-currency pair extends the previous day\u2019s pullback from the 50-DMA hurdle amid bearish MACD signals.<\/p>\n<p>Also keeping the EUR\/GBP sellers hopeful is the pair\u2019s lower high formation, as portrayed by a three-week-old descending resistance line surrounding 0.8850 by the press time.<\/p>\n<p>That said, the pair sellers appear well-set to drop towards an upward-sloping support line from December 19, 2022, close to 0.8760. However, the pair\u2019s further downside is likely to be limited by the 100-DMA support level near 0.8750.<\/p>\n<p>In a case where the cross-currency pair remains weak past 0.8750, the lows marked in January 2023 and late December 2022, respectively near 0.8720 and 0.8690, could act as additional downside filters.<\/p>\n<p>Meanwhile, EUR\/GBP recovery remains elusive unless the quote stays below the 50-DMA hurdle of 0.8831.<\/p>\n<p>Even if the quote rises past 0.8831, the aforementioned three-week-old resistance line could challenge the pair buyers near 0.8850.<\/p>\n<p>Following that, the mid-February swing high surrounding 0.8930 appears the last defense of the EUR\/GBP bears.<\/p>\n<h2>EUR\/GBP: Daily chart<\/h2>\n<p><a href=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/EUR_GBP-28022023-638131572920951492.png\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/editorial.fxstreet.com\/miscelaneous\/EUR_GBP-28022023-638131572920951492.png\"><\/a><\/p>\n<p>Trend: Further downside expected<\/p>\n<\/p><\/div>\n<div>\n<p>Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page. <\/p>\n<p>If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.<\/p>\n<p>FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.<\/p>\n<p>The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. <\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/www.fxstreet.com\/news\/eur-gbp-price-analysis-bears-occupy-drivers-seat-around-08800-threshold-202302280502\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Margarete Fleishman<\/p>\n","protected":false},"excerpt":{"rendered":"<p>EUR\/GBP holds lower ground at monthly bottom, extends pullback from 50-DMA. Lower-high formation keeps sellers hopeful amid bearish MACD signals. 2.5-month-old ascending support line, 100-DMA lures bears during further downside. Bulls need validation from three-week-long falling resistance line. EUR\/GBP remains depressed around 0.8790, refreshing the monthly low, as traders brace for Tuesday\u2019s European session. In [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":612547,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24617,534,4759],"tags":[],"class_list":{"0":"post-612546","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-analysis","8":"category-financial","9":"category-price"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=612546"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/612546\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/612547"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=612546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=612546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=612546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}