Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- EUR/GBP was trading 0.05% higher on the day at 0.8355 at around 12:50 GMT.
- Momentum is bearish, Stochs and RSI are biased lower
- MACD and ADX support downside in the pair
- Downside in the pair has held support at 5-DMA and daily cloud
- 50-DMA is stiff resistance, upside continuation only on break above
Support levels - 0.8338 (5-DMA), 0.8322 (Cloud base), 0.83
Resistance levels - 0.8366 (50-DMA), 0.8373 (20-DMA), 0.8401 (110-EMA)
Summary: EUR/GBP was trading with a neutral bias. Break below cloud will drag the pair lower to test channel base. On the flipside, retrace above 50-DMA will see upside continuation.
