Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
GMMA Indicator
- Both major and minor trend are strongly bearish
Ichimoku Analysis
- Price action is below cloud and major moving averages
- Chikou span is biased lower, suggesting further downside
Oscillators
- Stochs and RSI show momentum is strongly bearish
- Stochs are at oversold, but no signs of reversal seen
Bollinger Bands
- Bollinger bands are wide and show high volatility
Major Support Levels: 0.8390 (Rising trendline), 0.83 (Lower monthly BB), 0.8174 (200-month MA)
Major Resistance Levels: 0.8426 (5-DMA), 0.8472 (21-EMA), 0.8476(110-month EMA)
Summary: EUR/GBP is consolidating break below trendline support. Bias remains bearish, scope for further downside.
