EUR/GBP stalls the sell-off but not out of the woods yet. Falling wedge resistance now support eyed on the 1D chart. RSI remains bearish and calls for more downside. EUR/GBP has paused its three-day losing streak, attempting a minor bounce while defending the critical short-term 21-daily moving average (DMA) support at 0.8604. Meanwhile, the bearish 50-DMA caps the immediate upside at 0.8622. The 14-day Relative Strength Index (RSI) has turned flat but holds below the midline, which keeps the sellers hopeful. Therefore, a sustained move below the 21-DMA could call for a test of the falling wedge resistance now support at 0.8563. Note that the move higher from the wedge breakout on the daily chart, which appeared earlier this month, ran out of steam near the 0.8715 region. Ever since the price has been on a downtrend. The next relevant support is aligned at 0.8550, the psychological level. EUR/GBP daily chart On the flip side, recapturing the 50-DMA barrier could expose the 0.8700 mark once again. A break above which the recent top of 0.8719 could be retested. EUR/GBP additional levels to watch FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Expert score 5 Etoro - Best For Beginner & Experts0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 5 Read Review Open My Free Account Your capital is at risk. FXStreet News share Read Next S&P 500 Futures regain upside momentum beyond 4,150 amid mixed clues FX Street 6 months EUR/GBP stalls the sell-off but not out of the woods yet. Falling wedge resistance now support eyed on the 1D chart. RSI remains bearish and calls for more downside. EUR/GBP has paused its three-day losing streak, attempting a minor bounce while defending the critical short-term 21-daily moving average (DMA) support at 0.8604. Meanwhile, the bearish 50-DMA caps the immediate upside at 0.8622. The 14-day Relative Strength Index (RSI) has turned flat but holds below the midline, which keeps the sellers hopeful. Therefore, a sustained move below the 21-DMA could call for a test of the falling wedge resistance now support… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
