EUR/GBP chart - Trading View
EUR/GBP was trading 0.30% lower on the day at 0.8472 at around 09:00 GMT, outlook is bearish.
The pair has slipped to fresh lows since February 2020 and charts indicate more downside for the pair.
A highly successful vaccination distribution program and the gradual reopening of the UK economy is keeping the pound supported.
Technical bias for the pair shows extension of weakness. Momentum strongly bearish and volatility is high and rising.
Analysis of GMMA indicator shows major and minor trend on the daily charts are strongly bearish.
Recovery attempts failed at 21-EMA. The pair is extending weakness below 76.8% Fib.
110-month EMA at 0.8464 is major hurdle for bears. Decisive break below will open downside. Scope for test of 88.6% Fib at 0.8415.
