Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: EUR/GBP pivotal at 200-DMA support, break below will plummet prices

Chart - Courtesy Trading View 

Technical Analysis:

- EUR/GBP was trading 0.09% higher on the day at 0.8448 at around 12:30 GMT

- The pair is hovering around 200-DMA support and further weakness only on break below

- Price action is below 200H MA and is consolidating near cloud base and 200-DMA support

- Momentum is bearish and volatility is high and rising. 5-DMA is sharply lower and caps upside in the pair

- GMMA indicator shows minor trend is bearish, while major trend is turning bearish

Support levels:

S1: 0.8439 (200-DMA)

S2: 0.84

Resistance levels:

R1: 0.8480 (110-EMA)

R2: 0.8547 (200H MA)

Summary: EUR/GBP pivotal at 200-DMA support. Weakness only on decisive break below. Retrace above 110-EMA will see more upside in the pair.
 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.