Chart - Courtesy Trading View
EUR/GBP was trading 0.42% lower on the day at 0.8416 at around 09:20 GMT.
The pair is extending weakness after upside was rejected at 110-EMA and daily cloud resistance.
A 'Shooting Star' candlestick pattern on the daily charts reinforces downside in the pair.
Major trend in the pair is bearish as evidenced by GMMA indicator. Rejection at 110-EMA has reinforced downside.
Immediate support lies at 5-DMA at 0.8411. Retrace below 55-EMA at 0.8406 will see downside continuation.
Next major support below 55-EMA lies at 21-EMA at 0.8379 ahead of 20-DMA at 0.8379.
On the flipside, breakout above daily cloud and 110-EMA will reinforce upside bias. Scope then for test of 200-DMA at 0.8509.
