FxwirePro's Currency Strength Index bias for EUR/GBP: Bearish
FxwirePro's EUR Currency Strength Index: -168.25 (Highly bearish)
FxwirePro's GBP Currency Strength Index: 53.6296 (Neutral)
Technical Studies: Bias Bearish
- RSI below 50 and is biased lower
- MACD is showing a bearish crossover
- Price action below 5-DMA which is curved sharply lower
- Bollinger Bands widening and we see -ve DMI dominance developing
Support levels - 0.88, 0.8755 (200-DMA), 0.8746 (Sept 27 low), 0.8682 (61.8% Fib retrace of 0.8297 to 0.93065 rally)
Resistance levels - 0.8844 (5-DMA), 0.8909 (20-DMA), 0.8920 (38.2% Fib)
Recommendation: Good to go short on rallies around 0.8810/20, SL: 0.8860, TP: 0.8755/ 0.87/ 0.8685
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