EUR/GBP broke below the 200-day simple moving average for the first time since early July last week. Many investors see this as a strong bearish sign. EUR/GBP is currently correcting the recent losses but the currency cross is likely to remain bearish in the coming weeks with 0.8700 (May low) and 0.8620 (current 2018 low) as main targets to the downside. The 0.8800 level becomes the short-term resistance. EUR/GBP 4-hour chart Spot rate: 0.8786 Relative change: 0.04% High: 0.8809 Low: 0.8776 Main Trend: Bearish Resistance 1: 0.8800 figure Resistance 2: 0.8847-40 September 20 low and 200-DSMA (key support) Resistance 3: 0.8876 September 11 low Support 1: 0.8764 June 8 low Support 2: 0.8700 May low Support 3: 0.8620 current 2018 low 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 EU’s Moscovici: Had positive meeting with senior Italian 5-Star representative FX Street 4 years EUR/GBP broke below the 200-day simple moving average for the first time since early July last week. Many investors see this as a strong bearish sign. EUR/GBP is currently correcting the recent losses but the currency cross is likely to remain bearish in the coming weeks with 0.8700 (May low) and 0.8620 (current 2018 low) as main targets to the downside. The 0.8800 level becomes the short-term resistance. EUR/GBP 4-hour chart Spot rate: 0.8786 Relative change: 0.04% High: … 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.
