Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.10% higher on the day at 0.8309 at around 07:25 GMT
- The pair has paused a 3-day bearish streak, bias still remains bearish
- Price action is consolidating break below daily cloud, Chikou span is biased lower
- The pair is trading below major moving averages which are trending lower
- MACD and ADX support downside in the pair. GMMA indicator shows major and minor trend are bearish
Support levels - 0.8258 (Lower BB), 0.8205 (200-month MA)
Resistance levels - 0.8325 (5-DMA), 0.8352 (21-EMA), 0.8366 (55-EMA)
Summary: EUR/GBP grinds lower in sloping channel pattern, scope for further weakness. Bears target channel base at 0.8220.
