EUR/GBP Technical Analysis: Eyes losses for third straight day


  • EUR/GBP could end with losses for the third day, as the pair closed yesterday below 0.8636 yesterday, confirming a bearish doji reversal. The pair had created a long-tailed doji candle on Tuesday. 
  • Further, on the 4-hour chart, the pair is teasing a double top breakdown. Acceptance below the neckline 0.8633 looks likely, given yesterday’s bearish close and could be followed by a drop to sub-0.86 levels. 
  • A close above 0.8682 (April 23 high) is needed to revive the bullish setup. 

Daily chart

4-hour chart

Trend: Bearish

Pivot points

    1. R3 0.8678
    2. R2 0.8667
    3. R1 0.8649
  1. PP 0.8637
    1. S1 0.8619
    2. S2 0.8608
    3. S3 0.859

 

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