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FxWirePro: EUR/GBP extends weakness after bearish gap open, finds minor support at 55-EMA

EUR/GBP chart - Trading View 

EUR/GBP was trading 0.70% lower on the day at 0.9056 at around 09:25 GMT after closing 0.29% lower in the previous session.

The pair is extending a bearish gap open and near-term outlook remains bearish.

Technical studies are turning bearish. MACD is showing a bearish crossover on signal line and price action has broken below 21-EMA.

The pair has found minor support at 55-EMA at 0.9054. Break below will see weakness till 110-EMA at 0.8988.

Momentum studies are bearish. Major trend has gone flat and break below 200-DMA will negate any bullish bias. 

Major support levels are seen at 0.9054 (55-EMA), 0.8988 (110-EMA), 0.8895 (Trendline) and 0.8835 (200-DMA).

21-EMA is immediate resistance at 0.9104. Close above 5-DMA could see further gains. 
 

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