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FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/GBP was trading largely unchanged at 0.8595 at around 12:30 GMT

- The pair has erased early gains and slipped lower from session highs at 0.8615

- Price action has shown a decisive break below 110-EMA

- Momentum is bearish, Stochs and RSI are sharply lower

- Price action is well below 200H MA, GMMA shows bearish intraday trend

Support levels - 0.8562 (Lower BB), 0.8529 (200-DMA)

Resistance levels - 0.8630 (110-EMA), 0.8681 (200H MA) 

Summary: EUR/GBP trades with a bearish bias. Scope for test of 200-DMA at 0.8529. 
 

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