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EUR/GBP Price Analysis: Stays Pressured Below 200-HMA

EUR/GBP issues a three-day losing streak while dipping to 0.9022, which means, it is down 0.11%, and it was reflected on Monday during the pre-European meeting. The pair remains discouraged under 200-HMA as well as a short-term declining resistance line. 


As a result, sellers can keep their short positions while focusing on 0.9000 psychological magnets. Yet any further drawback should have to offer a reasonable downside break below an upward sloping pattern line from June 09, at 0.9000, to focus on July month’s low close to 0.8940. 

It is worth mentioning that the pair’s failure to bounce off the 0.9000 limits will assault the June month’s bottom surrounding of 0.8865. 

On the other hand, 0.9030 and 0.9040, containing 200-HMA and the previously mentioned resistance line, can limit the pair’s short-term recuperation. 

Additionally acting as upside hurdles will be 0.9060 and the late-July tops near 0.9090 which are ahead of 0.9100 round-figures.


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