EUR/GBP meets with some fresh supply and slides back closer to two-month lows. The technical set-up supports prospects for an extension of the depreciating move. The EUR/GBP cross failed to capitalize on its early uptick to mid-0.8300s and witnessed a dramatic intraday turnaround since the early European session on Tuesday. The downfall dragged the cross back closer to two-month lows set last week, with bears now eyeing some follow-through selling below the 0.8300 round-figure mark. Given the recent break below a near two-month-old descending trend-channel, the set-up remains tilted in favour of bearish traders and support prospects for a further downfall. Meanwhile, technical indicators on the daily chart maintained their bearish bias and are still far from being in the oversold territory, which further reinforces the negative outlook. Sustained weakness below multi-year lows – around the 0.8277 region – set in December, will reaffirm the bearish bias and pave the way for a further depreciating move. The cross then might accelerate the slide further towards the 0.8200 round-figure mark before eventually dropping to its next major support near the 0.8115-10 region. EUR/GBP daily chart 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 Bitcoin Price Analysis: BTC/USD trapped under short-term trendline; long-term bulls still have nothing to worry about FX Street 2 years EUR/GBP meets with some fresh supply and slides back closer to two-month lows. The technical set-up supports prospects for an extension of the depreciating move. The EUR/GBP cross failed to capitalize on its early uptick to mid-0.8300s and witnessed a dramatic intraday turnaround since the early European session on Tuesday. The downfall dragged the cross back closer to two-month lows set last week, with bears now eyeing some follow-through selling below the 0.8300 round-figure mark. Given the recent break below a near two-month-old descending trend-channel, the set-up remains tilted in favour of bearish traders and support prospects for a further… 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.
