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EUR/GBP chart - Trading View
EUR/GBP was trading rangebound on the day with session high at 0.8828 and low at 0.8816.
The pair slumped lower on Monday's trade after upbeat UK Final Manufacturing PMI buoyed the British pound.
Technical bias is strongly bearish, but bears were found struggling to extend weakness below 0.88 handle.
The pair bounced off session lows at 0.8804 to close at 0.8822 in the previous session. Decisive break below 0.88 handle to see bearish continuation.
Breach below Falling Wedge pattern and confirmation of a Death Cross on the daily charts keeps bias bearish.
The pair is on track to test 61.8% Fib retracement at 0.8743. 200W MA is now immediate resistance at 0.8833. Retrace above 200W MA will negate any further bearish bias.
