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GBPJPY Slips After Sterling Weakness, Bears Eye 216 
Chart - Courtesy Trading View
Technical Analysis: Bias Neutral
- EUR/GBP was trading 0.22% lower on the day at 0.8474 at around 09:45 GMT
- The pair has faltered at channel top resistance, breakout required for upside continuation
- Price action is consolidating break above 200-DMA, the pair has snapped at 3-day bullish streak
- MACD and ADX support upside, momentum is bullish and volatility is high
Support levels - 0.8466 (200-DMA), 0.8429 (5-DMA)
Resistance levels - 0.85, 0.8511 (55-week EMA)
Summary: EUR/GBP finds major resistance at channel top, break above required for upside continuation. On the flipside, retrace below 200-DMA will drag the pair lower.
