EUR/GBP Eyes Move Towards 0.8275 Support Zone

Forex Trades • Feb 13, 2020 at 9:58 AM EST

EUR/GBP looks to weaken further as it eyes a move towards its key supported located at 0.8275 level. This is coming on the back of its recent declines.

EUR/GBP looks to weaken further as it eyes a move towards its key supported located at 0.8275 level. This is coming on the back of its recent declines. On the downside, support stands at the 0.8275 level where a violation will turn focus to the 0.8250 level. A break below here will aim at the 0.8200 level. Its daily RSI is bearish and pointing lower suggesting further weakness. Conversely, resistance lies at the 0.8350 level. A violation if seen will turn risk towards the 0.8400 level. Further up, resistance comes in at 0.8450 level followed by the 0.8500 level. All in all, EUR/GBP remains biased to the downside.

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