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  |   Technicals


FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/GBP extends weakness for the fifth straight session

- The pair has slipped below 21-EMA, raising scope for further downside

- Momentum is strongly bearish, Stochs and RSI are sharply lower

- MACD shows bearish crossover on signal line, Chikou span is biased lower

- Price action is below 200H MA, GMMA shows bearish shift on the intraday charts

Major Support Levels: 

S1: 0.8755 (21-EMA)

S2: 0.8638 (55-EMA)

Major Resistance Levels: 

R1: 0.8845 (5-DMA)

R2: 0.8862 (200H MA)

Summary: EUR/GBP hovers around 21-EMA. Technical indicators are bearish. Watch out for decisive break below 21-EMA for further downside. 

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