EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP edges lower from session highs at 0.8601
- Upside remains capped at daily cloud
- The pair has ignored previous session's Doji formation
- Price action hovers around 76.8% Fib, bias lower
- Momentum studies are bearish, RSI is below the 50 mark
- Recovery attempts capped at 200H MA
Support levels - 0.8559 (76.8% Fib), 0.8544 (Lower BB), 0.85 (Trendline)
Resistance levels - 0.8573 (5-DMA), 0.8591 (21-EMA), 0.8617 (55-EMA)
Summary: EUR/GBP is extending gradual grind lower. The pair has ignored Doji formation on the previous week's candle and is extending downside. Scope for test of trendline support at 0.85. Break below will accentuate downside.
