FxWirePro

We prefer to go Short in EUR/GBP

Short
FX:EURGBP   Euro / British Pound
3
EUR/GBP made a low of 0.78150 and has slightly recovered from that level. Overall trend is bearish as long as resistance 0.7895 holds.

On the upside EUR/GBP minor resistance is around 0.7870 and any break of 0.7870 would extend gain to 0.7895/0.7957 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 0.7850, SL 0.7895, target 0.7694.