Chart - Courtesy Trading View
EUR/GBP was trading 0.21% lower on the day at 0.8336 at around 09:45 GMT.
After extending sideways with back-to-back Dojis and spinning tops, the pair is showing signs of downside resumption.
Price action is well below major moving averages which are biased lower. The pair trades below daily and weekly cloud and Chikou span is biased lower.
MACD and ADX support further downside in the pair. GMMA indicator shows major and minor trend are strongly bearish.
Eurozone Sentix Investor Confidence unexpectedly jumps to 14.9 in January, beating expectations for a drop to 12.0.
Current conditions index rose to 16.3 from 13.3, recording the first increase since September. However, expectations index eased slightly to 13.5 from 13.8.
The single currency largely ignores upbeat Eurozone Sentix data, EUR/GBP set to extend weakness. Next major bear target lies at 200-month MA at 0.8182.
