{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/eur-gbp-imminent-sell-off\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/eur-gbp-imminent-sell-off\/","headline":"EUR\/GBP Imminent Sell-Off!","name":"EUR\/GBP Imminent Sell-Off!","description":"EUR\/GBP increased in the last hours and it continues to stay above critical support level. Still, the pressure is high, so a new lower low could activate a new sell-off. The bias is bearish despite the current growth. GBP could take the lead again if the UK\u2019s inflation data will come in line with expectations […]","datePublished":"2021-05-19","dateModified":"2021-05-19","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/#Person","name":"Olimpiu Tuns","url":"https:\/\/forexschoolonline.com\/author\/olimpiu-tuns\/","identifier":19876,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2021\/04\/20200303_154346-1.png","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/eurgbp.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2021\/05\/eurgbp.png","height":898,"width":1828},"url":"https:\/\/forexschoolonline.com\/eur-gbp-imminent-sell-off\/","about":["EUR\/GBP"],"wordCount":242,"keywords":["British Pound","EUR","eurgbp","GBP","Pound","Technical Analysis"],"articleBody":"EUR\/GBP increased in the last hours and it continues to stay above critical support level. Still, the pressure is high, so a new lower low could activate a new sell-off.The bias is bearish despite the current growth. GBP could take the lead again if the UK\u2019s inflation data will come in line with expectations or better tomorrow. Surprisingly or not, the Pound drops right now even if the United Kingdom Unemployment Rate dropped unexpectedly from 4.9% to 4.8%.On the other hand, the Euro-zone Trade Balance, Flash GDP, and the Flash Employment Change have come in worse than expected, that\u2019s why the current growth could be over soon.Technical Analysis!EUR\/GBP is traded higher at 0.8606 level versus 0.8581 today\u2019s low. Is traded back above the lower median line (lml) of the ascending pitchfork which is seen as a dynamic support. The resistance is at the weekly pivot point (0.8621) level.Failing to stabilize above the lower median line (lml) may signal that EUR\/GBP could start decreasing again. A new lower low, dropping below 0.8581 level could confirm a decline at least until the weekly S1 (0.8551) level.The last false breakout with great separation above the weekly pivot point (0.8621) indicated that the pair may drop deeper in the short term.Note: ForexSchoolOnline is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}