Weekly candles indicate buyer exhaustion near 0.90. The daily chart shows a bearish MACD divergence. The EUR/GBP bulls are looking exhausted, having engineered an 11-week winning run, and the pair could drop to the 10-week moving average (MA) at 0.8917 in the next couple of days. The multiple candles with long upper wicks seen on the weekly chart indicate buyer exhaustion around 0.90. Further, the daily chart shows a bearish divergence of the moving average convergence divergence (MACD) histogram. The indicator has printed negative (bearish) readings over the last month, contradicting the higher lows on the spot. Put simply, the odds appear stacked in favor of a pullback to the ascending 10-week MA, currently at 0.8917. As of writing, the pair is trading at 0.8970, having hit a low of 0.8955 earlier today. Weekly chart Daily chart Trend: Bearish Pivot points 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 USD/JPY slips back below 108.00 amid fresh risk aversion wave FX Street 4 years Weekly candles indicate buyer exhaustion near 0.90. The daily chart shows a bearish MACD divergence. The EUR/GBP bulls are looking exhausted, having engineered an 11-week winning run, and the pair could drop to the 10-week moving average (MA) at 0.8917 in the next couple of days. The multiple candles with long upper wicks seen on the weekly chart indicate buyer exhaustion around 0.90. Further, the daily chart shows a bearish divergence of the moving average convergence divergence (MACD) histogram. The indicator has printed negative (bearish) readings over the last month, contradicting the higher lows on the spot. Put simply,… 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.
