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Forex pairs in this Article » EUR/GBP (Barcelona) - The EUR/GBP foreign exchange cross rate is last trading at 0.8595 off recent session lows at 0.8586, retracing from session highs at 0.8604 ahead of a London session closed over holidays.

EUR/GBP trading near its 50 DMA

The cross is capped below double high so far at 0.8604 printed both during early Asian open and late NY close last Friday, right below the 38.2% Fibo retrace of latest daily down leg 0.8770/0.8504 started early August. “Friday's rally took out our stop at the 50 day MA. We stand aside for now and will see how price behaves around the 50 day MA before re-shorting or buying a dip on a hold above,” said IFRMarkets.

EUR/GBP key technical levels

Immediate support to the downside for EUR/GBP lies at recent session lows 0.8586, followed by Thursday's/Wednesday's highs-August 12 lows at 0.8578/80, and August 15 highs at 0.8570. To the upside, closest resistance shows at August 14 highs 0.8599, followed by mentioned recent session/Friday's highs at 0.8604, and August 13 highs at 0.8612.
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