FxWirePro: EUR/GBP breaks below 21-EMA, on track to test support at 55-EMA at 0.8525

Chart - Courtesy Trading View 

EUR/GBP was trading 0.19% lower on the day at 0.8566 at around 11:55 GMT.

The pair is extending weakness for the 3rd straight session, bias remains bearish.

MACD shows bearish crossover on signal line, Chikou span is biased lower.

Momentum is bearish. Stochs and RSI are biased lower, RSI has slipped below 50 mark.

The pair is extending weakness after rejection at 200-week MA, GMMA indicator shows bearish shift in near-term moving averages.

Data Released:

The German Factory Orders jumped by 0.1% on the month vs. -0.6% expected and -2.7% last.

On an annualized basis, Germany’s Industrial Orders arrived at -3.1% in the reported month vs. -6.2% previous.

Eurozone’s Retail Sales increased by 0.2% MoM in May versus 0.4% expected and -1.4% last.

On an annualized basis, the bloc’s Retail Sales came in at 0.2% in May versus 4.0% recorded in April and 5.4% estimated.

Support levels - 0.8525 (55-EMA), 0.8509 (Lower BB)

Resistance levels - 0.8580 (21-EMA), 0.8593 (5-DMA)

Summary: EUR/GBP slips below 21-EMA, outlook is bearish, 55-EMA at 0.8525 in sight.