EUR/GBP: Bearish Tendencies, Confirmation Below 0.7240

 | Apr 08, 2015 05:23AM ET

EUR/GBP has been trading within a sideways range as seen on the provided daily graph. Actually, failure to maintain levels above 0.7400 could be the main catalyst that sent the pair lower below SMA50.

Meanwhile, RSI14 showed signs of double topping and MACD started to reflect the strength of bearish tendencies.