EUR/GBP has found acceptance below the key rising trendline. The monthly chart is reporting early signs of bearish reversal. EUR/GBP is currently trading at 0.9062, representing marginal losses on the day, having dived out of the trendline connecting May 6 and July 25 lows on Aug. 27. More importantly, that trendline resistance has proved a tough nut to crack ever since. The downside break of the trendline is backed by a below-50 reading on the relative strength index. Further, the pair created a big inverted bearish hammer candle last month, signaling a potential bullish-to-bearish trend change. So, the probability of the pair falling below 0.90 in the short term is high. the outlook would turn bullish if the pair finds acceptance above Tuesday’s high of 0.9148. Daily chart Monthly 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 Russia’s Novak: Russia will continue coordination with the OPEC FX Street 4 years EUR/GBP has found acceptance below the key rising trendline. The monthly chart is reporting early signs of bearish reversal. EUR/GBP is currently trading at 0.9062, representing marginal losses on the day, having dived out of the trendline connecting May 6 and July 25 lows on Aug. 27. More importantly, that trendline resistance has proved a tough nut to crack ever since. The downside break of the trendline is backed by a below-50 reading on the relative strength index. Further, the pair created a big inverted bearish hammer candle last month, signaling a potential bullish-to-bearish trend change. So, the probability of… 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.
