EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP closed below 200-DMA on December 31st trade opening downside
- Volatility is rising as evidenced by widening Bollinger bands
- Price has slipped below daily cloud adding to the downside bias
- Stochs and RSI are strongly bearish, RSI is now below the 50 mark
- Analysis of GMMA indicator shows minor trend has turned bearish
Support levels - 0.8924 (50W MA), 0.8887 (weekly cloud base), 0.8828 (200W MA)
Resistance levels - 0.8978 (200-DMA), 0.9010 (converged 110-EMA and 5-DMA), 0.9021 (55-EMA)
Summary: EUR/GBP shows signs of weakness. Break below 200-DMA has opened downside for the pair. Scope for test of 200W MA at 0.8828.
