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  |   Technicals


FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

- EUR/GBP is extending downside after recovery attempts were rejected at 55-EMA

- The pair is on a bearish streak for the 3rd consecutive session, trades 0.09% lower on the day

- Major moving averages on the daily charts are trending lower, price action has slipped below 200H MA

- GMMA indicator shows major trend is bearish, while minor trend is turning bearish

- Momentum is bearish, Stochs and RSI are biased lower, RSI is below 50 mark

Support levels - 0.8307 (Lower BB), 0.82, 0.8182 (200-month MA)

Resistance levels - 0.8351 (20-DMA), 0.8367 (21-EMA), 0.8414 (55-EMA)

Summary: EUR/GBP technical bias is bearish. Rejection at 55-EMA has raised scope for more downside. 

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