EUR/GBP chart - Trading View
EUR/GBP was trading 0.10% lower on the day at 0.8735 at around 07:00 GMT, outlook bearish.
Pound buoyed amid easing coronavirus lockdown restriction in the UK and progress in COVID-19 vaccination drive.
Upbeat UK Q4 GDP also supporting the pound. UK GDP grew by 1% QoQ in Q4 beating expectations of 0.5%.
EUR/GBP trades with a major bearish bias. 'Death Cross' (bearish 50-DMA crossover on 200-DMA) on the daily charts keeps bias lower.
Price action has currently slipped below 61.8% Fib (0.8743). Momentum is strongly bearish. Bears eye next major support at 55 month EMA at 0.8692.
Focus now on eurozone Q4 GDP data due 10:00 GMT Tuesday for further impetus. German ZEW survey (due 10:00 GMT, Tuesday) could also influence price action.
Breach at 55 month EMA will drag prices lower. Supports align at 0.8670 (Apr 2020 low) ahead of 76.8% Fib at 0.8559.
