EUR/GBP Technical Analysis: Slips below 0.8670 horizontal support, seems vulnerable to retest Jan. swing lows

• The cross failed to capitalize on the early uptick to 50-hour SMA and dropped to fresh monthly lows in reaction to the disappointing Euro-zone manufacturing PMI prints.

• The downward momentum dragged the cross below horizontal support and thus, paves the way for further declines back towards Jan. swing lows, around the 0.8620-15 region.

• Given that the cross remains well below its important intraday moving averages - 50, 100 & 200-hour SMAs, bearish technical indicators further add credence to the negative outlook.

EUR/GBP 1-hourly chart

EUR/GBP

Overview:
    Today Last Price: 0.8669
    Today Daily change %: -0.20%
    Today Daily Open: 0.8686
Trends:
    Daily SMA20: 0.8744
    Daily SMA50: 0.8866
    Daily SMA100: 0.8852
    Daily SMA200: 0.8864
Levels:
    Previous Daily High: 0.8716
    Previous Daily Low: 0.8673
    Previous Weekly High: 0.8842
    Previous Weekly Low: 0.8743
    Previous Monthly High: 0.9119
    Previous Monthly Low: 0.8617
    Daily Fibonacci 38.2%: 0.8699
    Daily Fibonacci 61.8%: 0.8689
    Daily Pivot Point S1: 0.8668
    Daily Pivot Point S2: 0.8649
    Daily Pivot Point S3: 0.8626
    Daily Pivot Point R1: 0.871
    Daily Pivot Point R2: 0.8734
    Daily Pivot Point R3: 0.8752

EUR/GBP Technical Analysis: Slips below 0.8670 horizontal support, seems vulnerable to retest Jan. swing lows

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