We prefer to go short EUR/GBP

FX:EURGBP   Euro / British Pound
51 0
Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 0.7831
Kijun-Sen level: 0.7826
Ichimoku cloud top: 0.7843
Ichimoku cloud bottom: 0.7857

EUR/GBP is facing strong resistance around 0.7870. Short term trend reversal only above that level.
Any indicative break above 0.7870 would extend gain to 0.7900/0.7925.
Long term trend reversal only above 0.7925.
Minor support is around 0.783. On the downside any break below will target 0.776/0.7745 (100% projection of 0.80647 to 0.77653 from 0.8045).

Recommendation: Sell EURGBP around 0.784, SL 0.7871, Target 0.7745.

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