EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP is extending weakness for the 3rd straight session
- The pair is extending weakness below 21-EMA
- Stochs and RSI are biased lower and RSI is below 50 mark
- MACD shows bearish crossover on signal line
- Price action is capped within daily cloud and Chikou span is biased lower
- Negative DMI crossover on positive DMI adds to the bearish pressure
Support levels - 0.8595 (Cloud base), 0.85, 0.8471 (110-month EMA)
Resistance levels - 0.8653 (21-EMA), 0.8681 (55-month EMA), 0.8737 (110-EMA)
Summary: EUR/GBP trades with a bearish bias. Scope for dip till cloud base. Breach below cloud will open downside. Focus on BoE policy decision for impetus.
