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.
