Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading largely unchanged at 0.8347 at around 07:45 GMT
- The pair is struggling to extend previous session's gains, upside remains capped at 21-EMA
- Momentum studies are bearish, RSI is below 50 mark, major moving averages are trending lower
- Price action is struggling to hold break above 200H MA, GMMA indicator shows bullish shift on the intraday charts
Support levels - 0.8347 (200H MA), 0.8337 (5-DMA), 0.8308 (Lower BB)
Resistance levels - 0.8359 (21-EMA), 0.8381 (Upper BB), 0.8406 (55-EMA)
Summary: EUR/GBP bias remains bearish as long as pair remains capped below 21-EMA. Decisive break above will see test of 55-EMA at 0.8406.
