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EUR/GBP outlook – bearish below daily low

FX:EURGBP   Euro Fx/British Pound
Resistance – 0.7757, 0.7780, 0.7849

Support – 0.7724, 0.7683, 0.7649

  • Pair’s exhaustion as it neared head and shoulder neckline level of 0.7757 if followed by a break below daily low of 0.7724 (which would also mark failure to sustain above daily 5-SMA and 0.7735 (Apr 26 low) would open doors for a drop to 0.77-0.7683 (23.6% of 0.6981-0.8117).
  • On the higher side, a day end closing above neckline of 0.7757 to signal short-term bearish invalidation.
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