Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.34% lower on the day at 0.8226 at around 10:20 GMT
- The pair is on verge of break below channel base, which if confirmed will plummet prices
- Momentum is strongly bearish. Stochs and RSI are sharply lower, raising scope for further downside
- GMMA indicator shows major and minor trend is strongly bearish, MACD and ADX support downside
Support levels - 0.8197 (200-week MA), 0.8165 (Lower W BB), 0.8067 (June 2010 low)
Resistance levels - 0.8279 (5-DMA), 0.83, 0.8329 (21-EMA)
Support: EUR/GBP was trading with a strong bearish bias. Close below channel base will buoy bears in the pair. Major support is seen at 200-week MA at 0.8197. Watch out for break below for further downside.
