Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.14% lower on the day at 0.8278 at around 05:15 GMT
- The pair grinds lower in sloping channel pattern and outlook is strongly bearish
- Price action is on a downtrend for the 4th consecutive session
- Momentum is strongly bearish, Stochs and RSI are sharply lower
- GMMA indicator shows major and minor trend are strongly bearish
- Price action is below major moving averages which are trending lower
Support levels - 0.8255 (Channel base), 0.82, 0.8197 (200-month MA)
Resistance levels - 0.8332 (5-DMA), 0.8343 (200H MA), 0.8366 (20-DMA)
Summary: EUR/GBP trades with a strong bearish bias. Next bear target lies at 0.8255 (Channel base).
