EUR/GBP Price Analysis: Slips below 0.9000 on the break of immediate triangle

• EUR/GBP extends Tuesday’s losses amid bearish MACD.
• Downside break of symmetrical triangle, lower high since last-Thursday portray pair’s weakness.
• 200-HMA adds to immediate resistances ahead of the triangle’s upper line.

EUR/GBP seesaws near the intraday low of 0.8988, currently around 0.8995 during the pre-European session on Wednesday. The quote recently broke a one-week-old symmetrical triangle formation amid bearish MACD.

Also favoring the sellers is the pair’s sustained failure to cross 200-HMA and lower high formation.

Hence, the sellers are targeting a falling trend line from the previous day, currently around 0.8970, during the further downside before challenging the monthly low near 0.8945.

It should be noted, though, that July month’s bottom of 0.8938 adds filters during the quote’s additional south-run.

Meanwhile, 200-HMA and the triangle resistance, respectively around 0.9020 and 0.9030, will put the buyers on a test ahead of offering the monthly high surrounding 0.9070.

EUR/GBP hourly chart

Trend: Bearish