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Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.10% lower on the day at 0.8781 at around 11:30 GMT
- The pair is extending bearish streak for the 3rd straight session, slips below daily cloud
- Price action capped between 55 and 110 EMAs, likely to extend sideways
- GMMA indicator shows major trend is neutral, while minor trend is bearish
Support levels:
S1: 0.8772 (110-EMA)
S2: 0.8716 (Lower BB)
Resistance levels:
R1: 0.8791 (5-DMA)
R2: 0.8803 (200H MA)
Summary: EUR/GBP trapped between major moving averages. Dip below cloud has raised scope for downside. Watch out for break below 110-EMA for more weakness.
