EUR/GBP remains on the back foot near one-week low. 10-day EMA guards immediate upside amid bearish MACD. Sellers can eye the bullish formation’s support during further weakness. EUR/GBP takes offers near 0.8850, down 0.06% intraday, while heading into the London open on Wednesday. In doing so, the quote drops for the third consecutive day inside a falling wedge bullish chart pattern established since December 17. Considering the bearish MACD and the pair’s inability to cross 10-day EMA, EUR/GBP sellers are currently targeting the monthly low of 0.8830. However, any further weakness will be challenged by the lower line of the wedge, at 0.8806 now, followed by the 0.8800 threshold. Meanwhile, an upside break of 10-day EMA, currently around 0.8885, will direct EUR/GBP buyers to the stated bullish formation’s resistance line near 0.8925. In a case where the EUR/GBP bulls manage to cross 0.8925, the theoretical run-up towards the December top around 0.9230 should. Though, the 0.9000 psychological magnet and the monthly peak of 0.9085 can act as intermediate halts. Overall, EUR/GBP is likely to remain depressed but odds of a trend reversal increase to the bullish chart pattern and hesitant weakness. EUR/GBP daily chart Trend: Pullback expected 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 Price Analysis: XAU/USD awaits Fed decision for a clear direction, levels to watch – Confluence Detector FX Street 1 year EUR/GBP remains on the back foot near one-week low. 10-day EMA guards immediate upside amid bearish MACD. Sellers can eye the bullish formation’s support during further weakness. EUR/GBP takes offers near 0.8850, down 0.06% intraday, while heading into the London open on Wednesday. In doing so, the quote drops for the third consecutive day inside a falling wedge bullish chart pattern established since December 17. Considering the bearish MACD and the pair’s inability to cross 10-day EMA, EUR/GBP sellers are currently targeting the monthly low of 0.8830. However, any further weakness will be challenged by the lower line of the… 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.