EUR/GBP Short term Outlook

FX:EURGBP   Euro / British Pound
151 0
EUR/GBP has slightly recovered after making low of 0.72380. In 4 hours chart it has formed bullish divergence and jump till 0.7340 cannot be ruled out.

On the upside minor resistance is around 0.7300 and any break above would pave way for next target around 0.7350/0.7380.

The pair’s support is around 0.7235 (161.8%T retracement of 0.72586 and 0.7296) and break below will target 0.7200/0.7160.

Indicators (4 Hours chart)
CCI (50) - Sell
CCI (14) - Sell
Ichimoku- Neutral

Recommendation: Buy EUR/GBP around 0.7260, SL 0.7230, Targets 0.7295/0.7340.


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