FxWirePro

EUR/GBP Short Term Outlook

Short
FX:EURGBP   Euro / British Pound
2
EUR/GBP made a low of 0.7758 and has slight recovered till 0.7845 from that level. Overall trend is bearish as long as support 0.7875 holds.
On the upside EUR/GBP minor resistance is around 0.7875 and any break of 0.7875 would extend gain to 0.7925/0.7970 in short term.
The pair’s minor support is around 0.7800 and break below will target 0.775/0.7694

Indicators (4 Hour chart)
CCI (50) – Sell
CCI (14) – Sell
Ichimoku- Sell

Recommendation:Sell EUR/GBP around 0.7815-20, SL 0.7875, target 0.7740/0.7700.