Chart - Courtesy Trading View
Technical Analysis: Bias turning Bearish
- EUR/GBP was trading 0.02% lower (largely unchanged) at 0.8380 at around 12:10 GMT
- The pair has edged slightly higher from session lows at 0.8367, finds strong support at 20-DMA
- Price action has resumed downside after being rejected at 200-DMA resistance
- 5-DMA and RSI have turned south, Stochs are on verge of bearish rollover from overbought levels
- Price action has slipped below 200H MA and GMMA indicator has shown a bearish shift on the intraday charts
Support levels - 0.8366 (21-EMA), 0.8345 (20-DMA)
Resistance levels - 0.8411 (5-DMA), 0.8441 (200-DMA)
Summary: EUR/GBP pauses at 21-EMA support. Technical indicators are turning bearish. Break below 21-EMA will drag the pair lower.
