EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.22% lower on the day at 0.8464 at around 12:25 GMT
- The pair is extending declines after recovery was rejected at 200-DMA
- MACD is below the zero level and supports downside, ADX also favours bearish bias
- Momentum is with the bears, RSI is below 50 and biased lower, Stochs are at oversold levels
- After grinding sideways between 55 and 110 month EMAs, the pair is showing a breach below 110-month EMA
- Weekly close below 0.8465 will see drag till major trendline support at 0.8365
Support levels - 0.8465 (trendline support), 0.84, 0.8365 (trendline)
Resistance levels - 0.8522 (5-DMA), 0.8560 (21-EMA), 0.8634 (23.6% Fib)
Summary: EUR/GBP hovers around major trendline support at 0.8465. Watch out for weekly close below for further weakness. Breach below sees little support till 0.8365.
