Sun, Feb 05, 2023 @ 16:43 GMT
HomeContributorsTechnical AnalysisEUR/GBP Accelerated Lower

EUR/GBP Accelerated Lower

The pair accelerated lower on Friday and hit fresh marginally lower low at 0.9114, offsetting reversal signal that was formed by Wednesday’s Doji and Thursday’s bullish close and signaling further extension of pullback from 0.9306 (29 Aug high).

Fresh acceleration lower is eyeing next strong support at 0.9091 (Fibo 38.2% of 0.8744/0.9306), close below which would generate another strong bearish signal.

The price broke below 10/20SMA’s which reinforces negative near-term outlook, as south-heading daily RSI is passing through neutrality territory and showing a plenty of room downside.

Firm break below Fibo 0.9091 support would trigger towards psychological 0.9000 level, reinforced by rising 55SMA).
South-turned 10SMA which capped upside action in past five days, offers solid resistance at 0.9184.

Res: 0.9184; 0.9210; 0.9237; 0.9268
Sup: 0.9114; 0.9091; 0.9062; 0.9024

Windsor Brokers Ltd
Windsor Brokers Ltdhttp://www.windsorbrokers.com/
The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Featured Analysis

Learn Forex Trading