Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.30% lower on the day at 0.8398 at around 11:20 GMT
- Price action has slipped into the daily cloud, scope for further downside
- The pair failed to extend break above 200-DMA which is major resistance at 0.8464
- Price action was rejected at channel top resistance, further upside only on break above
- Stochs and RSI are biased lower, Stochs show bearish rollover from overbought levels
- The pair hovers around 200H MA and 21-EMA support at 0.8398, break below to plummet prices
Support levels - 0.8398 (nearly converged 200H MA and 21-EMA), 0.8381 (55-EMA), 0.8367 (50-DMA)
Resistance levels - 0.8409 (110-EMA), 0.8417 (Cloud top), 0.8464 (200-DMA)
Summary: EUR/GBP is trading with a bearish bias. The pair is holding support at 200H MA and 21-EMA. Break below to plummet prices further.
