EUR/GBP looks south with bear flag breakdown on the daily chart. The 100-day MA located at 0.8922 could come into play. EUR/GBP will likely test the 100-day moving average (MA) support of 0.8922 in the European session, having bolstered the bearish setup on the daily with a drop to a six-week low of 0.8942 on Thursday. As of writing, EUR/GBP is trading at 0.8953, representing 0.12% gains on the day. The pair fell 0.68% on Thursday, reinforcing the bearish view put forward by the bear flag breakdown confirmed on Wednesday. The 5- and 10-day MAs continue to trend south and the 14-day relative strength index (RSI) is reporting bearish conditions with a below-50 print. All-in-all, the path of least resistance is to the downside. A close below the 100-day MA at 0.8922 would expose the next major support lined up at 0.8892 (July 25 low). On the higher side, a daily close above the 10-day MA at 0.9034 is needed to invalidate the bearish setup. Daily chart Trend: Bearish Technical levels 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 prediction: BTC/USD bulls need to overcome one healthy resistance level on path back to $11,000 FX Street 4 years EUR/GBP looks south with bear flag breakdown on the daily chart. The 100-day MA located at 0.8922 could come into play. EUR/GBP will likely test the 100-day moving average (MA) support of 0.8922 in the European session, having bolstered the bearish setup on the daily with a drop to a six-week low of 0.8942 on Thursday. As of writing, EUR/GBP is trading at 0.8953, representing 0.12% gains on the day. The pair fell 0.68% on Thursday, reinforcing the bearish view put forward by the bear flag breakdown confirmed on Wednesday. The 5- and 10-day MAs… 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.
