Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
- EUR/GBP was trading 0.04% lower on the day at 0.8322 at around 12:40 GMT
- The pair has erased early gains and has slipped lower from session highs at 0.8343
- Momentum is bearish. Stochs and RSI are biased lower, RSI is below the 50 mark
- Cloud base is offering strong support, break below will drag the pair lower
- GMMA shows minor trend is bearish, MACD and ADX support weakness
Support levels - 0.8322 (Cloud base), 0.8295 (Mar 23 low), 0.8205 (200-month MA)
Resistance levels - 0.8359 (21-EMA), 0.8389 (21-week EMA), 0.8468 (110-month EMA)
Summary: EUR/GBP trades with a bearish bias. The pair is holding support at daily cloud, breach below will plummet prices.
