EUR/GBP Technical analysis: Testing 5-week rising trendline

• EUR/GBP is currently trading just above the support of the trendline connecting the Nov. 13 and Dec. 7 lows.
• Acceptance below that trendline would imply that the rally from the Nov. 13 low of 0.8656 has ended. A bearish reversal, however, would be confirmed, if and when, the pair violates the higher low pattern with a move below 0.8952.
• On the higher side, a strong bounce from the ascending trendline could end up recharging engines for a re-test of the recent high of 0.9087.
• The key MAs - 50, 100 and 200 - are trending north and are located one above the other. So, the pair is more likely to see a strong bounce from the ascending trendline support.

4-Hour Chart
Trend: Bullish

Overview:
Today Last Price: 0.8991
Today Daily change: -4.0 pips
Today Daily change %: -0.0445%
Today Daily Open: 0.8995

Trends:
Previous Daily SMA20: 0.8925
Previous Daily SMA50: 0.8849
Previous Daily SMA100: 0.8893
Previous Daily SMA200: 0.8841

Levels:
Previous Daily High: 0.9009
Previous Daily Low: 0.8966
Previous Weekly High: 0.9089
Previous Weekly Low: 0.8952
Previous Monthly High: 0.8932
Previous Monthly Low: 0.8656
Previous Daily Fibonacci 38.2%: 0.8993
Previous Daily Fibonacci 61.8%: 0.8982
Previous Daily Pivot Point S1: 0.8971
Previous Daily Pivot Point S2: 0.8947
Previous Daily Pivot Point S3: 0.8928
Previous Daily Pivot Point R1: 0.9014
Previous Daily Pivot Point R2: 0.9033
Previous Daily Pivot Point R3: 0.9057

Source: https://www.fxstreet.com/news/eur-gbp-t ... 1812180451