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EUR/GBP chart - Trading View
EUR/GBP was trading 0.20% lower on the day at 0.8578 at around 10:00 GMT.
The pair has snapped 2-day bullish streak and slips lower as upside falters at stiff resistance at 55-EMA and daily cloud.
The British pound remained bid amid UK reopening and Brexit optimism, pushing the pair higher.
GBP bulls ignored BOE's dovish surprise and a rapid rise of Delta plus covid variant in the UK, dragging the pair lower.
Technical bias for the pair is strongly bearish on the weekly and daily charts as evidenced by the GMMA indicator.
Price action is on track to test major trendline support at 0.85 mark. Violation there will see more weakness.
