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FxWirePro: EUR/GBP Daily Technical Analysis

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/GBP was trading 0.04% lower on the day at 0.8335 at around 06:30 GMT

- The pair is extending weakness below daily cloud, scope for further downside

- Stochs and RSI are biased lower, RSI slips below 50 mark

- MACD confirms bearish crossover on signal line, ADX supports downside

- Price action has broken below 200H MA 

- GMMA indicator shows bearish shift on the intraday charts

Major Support and Resistance Levels:

Support - 0.8247 (Lower W BB), 0.8205 (200-month MA)

Resistance - 0.8379 (55-EMA), 0.8406 (110-EMA)

Summary: EUR/GBP poised for further downside. Test of 200-month MA at 0.8205 likely. 
 

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