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Short

EUR/GBP Daily Outlook

FX:EURGBP   Euro Fx/British Pound
33 0 1
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.
Minor resistance -0.7835.
Long term trend reversal only above 0.7925.
Minor support is around 0.782. On the downside any break below will target 0.776 (161.8% retracement of 0.779 to 0.7861)/0.7745 (100% projection of 0.80647 to 0.77653 from 0.8045).
Recommendation: Sell EUR/GBP             around 0.7835, SL 0.7871, Target 0.776.
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