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FxWirePro: EUR/GBP Daily Outlook

Chart - Courtesy Trading View 

Technical Analysis: Bias Bearish

GMMA Indicator

- Major and minor trend is bearish

Ichimoku Analysis

- Price action is below cloud and Chikou span is supporting downside

Oscillators

- Stochs and RSI are sharply lower, momentum is strongly bearish

- Stochs are in oversold zone, but no signs of reversal seen

Bollinger Bands

- Widely spread Bollinger bands suggest high and rising volatility

- Price action is grinding lower along lower Bollinger band

Major Support Levels: 0.8420 (Trendline), 0.8387 (Lower W BB)

Major Resistance Levels: 0.8441 (5-DMA), 0.8478 (21-EMA)

Summary: EUR/GBP poised for further downside. Dip till 0.82 levels in the near-term likely.
 

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