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FxWirePro: EUR/GBP holds 200-DMA support, break below to drag prices lower
EUR/GBP chart - Trading View
EUR/GBP fails to extend previous session's gains, trades 0.36% lower on the day at 0.8769 at around 11:45 GMT.
The pair finds strong support at 200-DMA at 0.8751, break below will see further weakness.
GMMA indicator shows major trend is neutral, while minor trend is bearish. Break below 200-DMA could see shift in major trend.
Technical indicators support weakness in the pair. Price action is below 200H MA and Stochs and RSI show bearish momentum.
Break below 200-DMA will see resumption of weakness. Next immediate support lies at 110-EMA at 0.8698 ahead of 50-DMA at 0.8685.
Failure to break below 200-DMA will see consolidation at current levels. Scope for upside only above 200H MA (0.8925).