EURGBP – bears eye 200SMA target after completion of H&S pattern on daily chart
The cross extends steep descend into third consecutive day and generated bearish signals on completion of asymmetric H&S pattern on daily chart (broken neckline lies at 0.8868) and break below 0.8840 (Fibo 61.8% of 0.8732/0.9013 ascend).
Strong bearish acceleration from 0.8981 (right shoulder) eyes target at 0.8791 (200SMA / 07 Nov trough) and could extend towards key s/t support at 0.8732 (01 Nov low).
Broken daily Kijun-sen / H&S neckline mark solid resistance at 0.8870 zone which is expected limit corrective attempts.
Res: 0.8840; 0.8870; 0.8903; 0.8916
Sup: 0.8811; 0.8791; 0.8745; 0.8732