EUR/GBP trend

FX:EURGBP   Euro Fx/British Pound
12 0 0
The primary trend of EUR/GBP             is bearish on charts and price is sustaining below trend line in its 4 hourly chart. In 4 hourly chart the price is sustaining below 200 day SMA and taking resistance of 50 day SMA indicating downtrend of the pair.
Resistance at the level of 0.7110 and support at the level of 0.7010. If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair. RSI is also sustaining in its selling zone indicating the bearish trend in the pair.

STRATEGY: EUR/GBP             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
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