- 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.
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
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