EUR/GBP chart - Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.19% lower on the day at 0.8520 at around 13:15 GMT.
- The pair has been capped at daily cloud and 110-EMA resistance
- Major trend in the pair is neutral, while minor trend is bearish as evidenced by GMMA indicator
- After grinding sideways, capped between 55 and 110 EMAs, the pair has broken out of range trade
- Oscillators support bearish bias, Stochs and RSI are sharply lower
- MACD confirms bearish crossover on signal line adding to the downside bias
Major Support and Resistance Levels:
Support - 0.8460 (Major trendline), Resistance - 0.8553 (21-EMA)
Summary: EUR/GBP trades with a bearish bias. The pair is on track to test major trendline support at 0.8460, breach below will plummet price further. Bearish invalidation only above daily cloud and 110-EMA.
