EUR/GBP has failed to hold break below 100-DMA at 0.8555, has edged higher to currently trade at 0.8567.
The pair is extending declines after rejection at major trendline resistance at 0.8780.
Price action has broken into daily Ichi cloud and 200-DMA at 0.8582, which is now strong resistance on the upside.
Technicals are bearish, break below 100-DMA at 0.8555 will see further drag.
Cloud base at 0.8519 is immediate support. Violation there could see test of trendline at 0.8455.
Good to enter shorts on break below 100-DMA, target 0.8455.
The pair is extending declines after rejection at major trendline resistance at 0.8780.
Price action has broken into daily Ichi cloud and 200-DMA at 0.8582, which is now strong resistance on the upside.
Technicals are bearish, break below 100-DMA at 0.8555 will see further drag.
Cloud base at 0.8519 is immediate support. Violation there could see test of trendline at 0.8455.
Good to enter shorts on break below 100-DMA, target 0.8455.
Focus on UK manufacturing data due later today.
The leading indicator - UK CBI data had showed a sharp rise in the export orders and price pressures.
Hence, UK manufacturing data could come in better-than-expected.
The focus also on the final German and Eurozone manufacturing PMI data.