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.
