EUR/GBP Looks To Weaken Further Lower On Correction

Forex Trades • Jun 5, 2019 at 11:41 AM EDT

EUR/GBP looks to weaken further lower on correction as it retains its downside pressure. On the downside, support stands at the 0.8800 level where a violation will turn focus to the 0.8750 level.

EUR/GBP looks to weaken further lower on correction as it retains its downside pressure. On the downside, support stands at the 0.8800 level where a violation will turn focus to the 0.8750 level. A break below here will aim at the 0.8700 level. Its daily RSI is bearish and pointing lower suggesting further weakness.

Conversely, resistance lies at the 0.8900 level. A violation if seen will turn risk towards the 0.8950 level. Further up, resistance comes in at 0.9000 level followed by the 0.9050 level. All in all, EUR/GBP remains biased to the upside on more recovery

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