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Chart - Courtesy Trading View
EUR/GBP was trading largely unchanged at 0.8529 at around 06:3 0GMT.
The pair has lost scope for upside continuation after rejection at 200-DMA and daily cloud.
After grinding sideways below 200-DMA resistance, the pair looks poised for downside resumption.
RSI has turned south and Stochs are on verge of bearish rollover from overbought levels.
The pair has retraced below 110-EMA and is hovering above 55-EMA support, break below will see more downside.
Price action has slipped below 200H MA, GMMA indicators shows bearish shift on the intraday charts.
Support levels - 0.8516 (55-EMA), 0.8489 (20-DMA), 0.8462 (Nov 4th low)
Resistance levels - 0.8540 (200H MA), 0.8544 (converged 110-EMA and 5-DMA), 0.8574 (200-DMA)
Summary: EUR/GBP rejected at 200-DMA. Watch out for breach below 55-EMA support for further weakness.
