EUR/GBP holds 20-DMA support, break below to see further drag
EUR/GBP edges lower after upside failed to break above 61.8% Fib of 0.9225 to 0.8297 fall.
Technical indicators on daily charts have turned bearish, RSI and Stochs have rolled over from near overbought levels.
The pair is currently holding strong support at 0.8718 (20-DMA), break below will see further drag.
Bias on weekly charts remains positive, we see weakness if the pair manages to close below weekly 5-DMA also at 0.8718 levels.
Support levels - 0.8718 (20-DMA and weekly 5-SMA), 0.8651 (38.2%), 0.8612 (200-DMA)
Resistance levels - 0.8761 (50% Fib), 0.8781 (5-DMA), 0.88, 0.8870 (61.8% Fib)
Good to go short on break below 0.8718, SL: 0.8765, TP: 0.8650/ 0.8615/ 0.86
Technical indicators on daily charts have turned bearish, RSI and Stochs have rolled over from near overbought levels.
The pair is currently holding strong support at 0.8718 (20-DMA), break below will see further drag.
Bias on weekly charts remains positive, we see weakness if the pair manages to close below weekly 5-DMA also at 0.8718 levels.
Support levels - 0.8718 (20-DMA and weekly 5-SMA), 0.8651 (38.2%), 0.8612 (200-DMA)
Resistance levels - 0.8761 (50% Fib), 0.8781 (5-DMA), 0.88, 0.8870 (61.8% Fib)
Good to go short on break below 0.8718, SL: 0.8765, TP: 0.8650/ 0.8615/ 0.86