Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.01% lower on the day at 0.8457 at around 10:45 GMT
- The pair has bounced off 200-DMA support and further weakness only on break below
- Price action is below 200H MA and is consolidating near cloud base and 200-DMA support
- Momentum is bearish and volatility is high and rising. 5-DMA is sharply lower
- GMMA indicator shows minor trend is bearish, while major trend is turning bearish
Support levels:
S1: 0.8445 (20-week MA)
S2: 0.8439 (200-DMA)
Resistance levels:
R1: 0.8480 (110-EMA)
R2: 0.8563 (200H MA)
Summary: EUR/GBP pivotal at 200-DMA support. Weakness only on decisive break below. Retrace above 110-EMA will see more upside in the pair.
