Medium Term Trend:
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 0.7919
Kijun-Sen level: 0.7913
Ichimoku cloud top: 0.7921
Ichimoku cloud bottom: 0.7915
EUR/GBP made a high of 0.8000 and is retreating from that level. Overall is weak as long as 0.8115 resistance holds.
The pair is facing minor resistance around 0.8000 and any indicative break will target 0.8052 (200 day MA)/0.8115 in the short term. The 0.7830 will be the major support of the pair and any indicative break below would extend loss to 0.7750/0.7000.
Recommendation: Sell EUR/GBP around 0.80, SL 0.8115, Target 0.70.
Ichimoku analysis (Daily chart):
Tenkan-Sen level: 0.7919
Kijun-Sen level: 0.7913
Ichimoku cloud top: 0.7921
Ichimoku cloud bottom: 0.7915
EUR/GBP made a high of 0.8000 and is retreating from that level. Overall is weak as long as 0.8115 resistance holds.
The pair is facing minor resistance around 0.8000 and any indicative break will target 0.8052 (200 day MA)/0.8115 in the short term. The 0.7830 will be the major support of the pair and any indicative break below would extend loss to 0.7750/0.7000.
Recommendation: Sell EUR/GBP around 0.80, SL 0.8115, Target 0.70.
