tayalsmith
Short

EUR/GBP analysis

FX:EURGBP   Euro Fx/British Pound
13 0 0
The primary trend of EUR/GBP             is bearish on charts. In its hourly chart, the pair is sustaining below the trend line and price is sustaining at lower levels. Price is sustaining below 200 day SMA and 50 day SMA indicating the bearish trend in the pair. It is having an important resistance at the level of 0.7105 and support at the level of 0.7050. If it breaks its support level and sustains below it then we can expect it to show further bearish movement in the pair.

INDICATORS:-
MACD is sustaining in its negative territory supporting the upcoming bearish trend in the pair.
RSI is also sustaining in its selling zone indicating the upcoming bearish trend in the pair.

STRATEGY: EUR/GBP             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
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