Technical Analysis – EURGBP maintains bearish bias
Posted on June 20, 2014 at 10:11 am GMTEURGBP maintains its bearish bias as there have been a series of daily closes below the key 0.8000 level. Daily momentum remains negative; the RSI is well into bearish territory at 25. Prices are below the Ichimoku cloud and the tenkan-sen and kijun-sen are negatively aligned, adding to the bearish market structure. To the downside, immediate support is seen at 0.7958 which is the June 16 low, the lowest since September 2012. A break below this would precipitate a move [..]