EUR/GBP Technical Analysis: Bears eyeing downside break of key rising trendline
|- Having established lower highs (bearish pattern), the EUR/GBP pair is now flirting with a downside break of the key ascending trendline.
- Acceptance below the rising trendline would confirm a short-term bullish-to-bearish trend change and would allow a deeper drop to 0.8817 (200-day moving average).
Hourly chart
Spot Rate: 0.8888
Daily High: 0.8893
Daily Low: 0.8883
Trend: Bearish below rising trendline
R1: 0.8899 (10-day moving average)
R2: 0.8936 (July 31 high)
R3: 0.8958 (July 20 high)
Support
S1: 0.8884 (rising trendline support)
S2: 0.8865 (July 26 low)
S3: 0.8824 (50-day moving average)
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