The primary trend of EUR/GBP is bearish on charts and price is sustaining below trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair.
Resistance level 0.7110
Support level 0.7010
If it breaks its support level on the downside 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 indicating the bearish trend in the pair.
RSI is also sustaining in its selling zone indicating the 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.
Resistance level 0.7110
Support level 0.7010
If it breaks its support level on the downside 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 indicating the bearish trend in the pair.
RSI is also sustaining in its selling zone indicating the 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.
