FX_IDC:EURGBP   Euro Fx/British Pound
On a larger scheme of things, the cross appears on track to test 0.80 levels, which is the leg D of cypher pattern . The rebound from point C and a possible rise to point D was pointed out 11 days ago in a post titled - EUR/GBP - possible Cypher set up ahead of June referendum

Intraday outlook

Failure to sustain above 0.7850 (50% of 0.8769-0.6931) followed by a break below daily low of 0.7843 would open doors for a drop to 0.78 handle (also daily 200-MA level).

On the higher side, 0.80 remains a strong resistance and potential reversal zone as pointed out by Cypher .


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