Chart - Courtesy Trading View
EUR/GBP was trading 0.32% lower on the day at 0.8341 at around 13:30 GMT.
The pair is extending downside after rejection at 110-EMA and daily cloud resistance.
Momentum indicators are bearish. Stochs and RSI are sharply lower, RSI has slipped below the 50 mark.
GMMA indicator shows major and minor trend are strongly bearish on the daily and intraday charts.
Price action is well below daily and weekly charts, Chikou span is biased lower in support of further weakness.
MACD is on verge of bearish crossover on signal line, -ve DMI crossover on +ve DMI adds to the downside bias.
Support levels - 0.83, 0.8289 (Lower W BB), 0.8265 (Wedge base)
Resistance levels - 0.8362 (5-DMA), 0.8376 (20-DMA), 0.84
Summary: EUR/GBP poised for further downside, dip till 0.8265 likely in the near term.
