Chart - Courtesy Trading View
EUR/GBP was trading 0.20% lower on the day at 0.8270 at around 05:15 GMT.
The pair is on a downward spiral for the 5th consecutive session, edges closer towards channel base.
Momentum is strongly bearish. Stochs and RSI are sharply lower. RSI is well below the 50 mark.
GMMA indicator shows major and minor trend are strongly bearish. Major moving averages are trending lower.
MACD supports weakness in the pair. ADX shows negative DMI dominance which suggests further downside.
Support levels - 0.8250 (Channel base), 0.82, 0.8197 (200-month MA)
Resistance levels - 0.8308 (5-DMA), 0.8337 (200H MA), 0.8357 (20-DMA)
Summary: EUR/GBP trades with a strong bearish bias. Next bear target lies at 0.8250 (Channel base).
