EUR/GBP stays directionless despite bouncing off six-month lows. Prices remain clubbed between the low of Monday’s Doji and 0.8600/05 resistance confluence. Broad bearish momentum remains intact unless breaking 61.8% Fibonacci retracement. EUR/GBP fails to justify Monday’s Doji candle as the quote remains directionless around 0.8565 ahead of the European open on Friday. The quote bounced off six-month lows on Monday and registered a Doji candle, signaling a recovery. However, prices still stay below near-term key resistance confluence around 0.8600/05 area including 21-day Exponential Moving Average (EMA) and a five-week-old falling trend line. Should buyers concentrate on the bullish signal from 12-bar Moving Average Convergence and Divergence (MACD), they to stay strong beyond 0.8605 to aim for 0.8680 and mid-October highs near 0.8750. Though, 61.8% Fibonacci retracement level of May-August upside, at 0.8810, could keep the pair’s further upside limited. Alternatively, a daily closing below Monday’s low of 0.8522 can recall bears targeting May month bottom of 0.8490 and the yearly low near 0.8470. EUR/GBP daily chart Trend: Bearish 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 Forex Today: Cautious optimism in play amid trade puzzle; a Big day ahead FX Street 3 years EUR/GBP stays directionless despite bouncing off six-month lows. Prices remain clubbed between the low of Monday's Doji and 0.8600/05 resistance confluence. Broad bearish momentum remains intact unless breaking 61.8% Fibonacci retracement. EUR/GBP fails to justify Monday's Doji candle as the quote remains directionless around 0.8565 ahead of the European open on Friday. The quote bounced off six-month lows on Monday and registered a Doji candle, signaling a recovery. However, prices still stay below near-term key resistance confluence around 0.8600/05 area including 21-day Exponential Moving Average (EMA) and a five-week-old falling trend line. Should buyers concentrate on the bullish signal from… 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.
