Chart - Courtesy Trading View
Technical Analysis:
- EUR/GBP was trading 0.29% lower on the day at 0.8637 at around 12:35 GMT
- The pair is extending weakness for the third consecutive session
- 110-EMA is offering immediate support at 0.8631, break below to plummet prices
- Momentum is bearish, Stochs and RSI are sharply lower, RSI is below 50 mark
- Price action is well below 200H MA, GMMA indicator has turned bearish on the intraday charts
Support levels - 0.8631 (110-EMA and trendline), 0.8565 (Lower BB)
Resistance levels - 0.8685 (5-DMA), 0.8701 (21-EMA)
Summary: EUR/GBP trades with a bearish bias. Break below 110-EMA will see more weakness. Scope for dip till 200-DMA at 0.8525.
