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Instrument: EURGBP
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 0.84935 with take profit at 0.84992.
Bearish Preference:
Sell position is envisaged if price trades below 0.84813 with take profit at 0.84748.
Fundamentals:
No major fundamental.
Comment: EUR/GBP remains pointing lower but has been unable to make a strong, confirmed break below 0.8500 despite the chart set-up looking increasingly negative for the pair. All three simple moving averages highlight the weakness of the pair, while the 20-day sma is now starting to act as the first line of resistance for the first time in nearly a month.
Analysis: SCRUM Team
