EUR/GBP struggles to keep recovery moves from 0.9100, drops for the fourth day in a row. MACD turns bearish for the first time in three weeks. Short-term symmetrical triangle restricts immediate moves. EUR/GBP prints mild losses of 0.12% while staying depressed around 0.9110 during the pre-European trading on Monday. While a triangle formation since September 09 questions the pair’s immediate moves, bearish MACD signals favor the sellers. As a result, a daily closing below the triangle’s support line, currently around 0.9100 becomes necessary to confirm the further weakness of EUR/GBP. Following that, 50% and 61.8% Fibonacci retracement of the early month’s upside, respectively around 0.9075 and 0.9025, could please the bears ahead of 0.8930 and the monthly low of 0.8866. In a case where EUR/GBP keeps its daily closing beyond the 21-day EMA level of 0.91118, intraday buyers may aim for 0.9145/50 resistances. However, a falling trend line from September 11, at 0.9190 now, could keep the bulls chained afterward. EUR/GBP daily chart Trend: Bearish 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 FXStreet News share Read Next Gold’s net bullish positions drop to lowest since June 9 FX Street 2 years EUR/GBP struggles to keep recovery moves from 0.9100, drops for the fourth day in a row. MACD turns bearish for the first time in three weeks. Short-term symmetrical triangle restricts immediate moves. EUR/GBP prints mild losses of 0.12% while staying depressed around 0.9110 during the pre-European trading on Monday. While a triangle formation since September 09 questions the pair’s immediate moves, bearish MACD signals favor the sellers. As a result, a daily closing below the triangle’s support line, currently around 0.9100 becomes necessary to confirm the further weakness of EUR/GBP. Following that, 50% and 61.8% Fibonacci retracement of the early… Regulated 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.
