News & Analysis
EURGBP – pause before further downside?
EURGBP took a beating overnight as the GBP came roaring back. This has presented a few signs that the EURGBP could be looking at further downside including:
⤍ Failed high bearish engulfing candle confirming resistance level at .8922
⤍ Fast and slow CCIs showing regular divergence
⤍ Today’s price is finding resistance at level .8921
A break of yesterday’s low could also set up for further downside. Currently, buyers seem to be holding price above that point.
Chart shapshot for EURGBP daily shown below.