Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.09% lower on the day at 0.8321 at around 06:20 GMT
- Recovery attempts in the pair lack traction, upside capped at 5-DMA
- Price action is extending weakness after rejection at 110-EMA and daily cloud
- Stochs and RSI are sharply lower, momentum is with the bears
- MACD confirms bearish crossover on signal line, ADX supports weakness
Support levels - 0.83, 0.8245 (Channel base), 0.8202 (yearly low)
Resistance levels - 0.8342 (5-DMA), 0.8355 (21-EMA), 0.8370 (55-EMA)
Summary: EUR/GBP trades with a bearish bias. Scope for test of channel base at 0.8245.
