SamKent

EUR/GBP at crossroads

FX:EURGBP   Euro / British Pound
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The EUR/GBP is at an interesting technical point, it has used the 0.7900 and 50% correction of the big bull move as support, and may now be getting ready to retest it. The pair is trading below the cloud and seems to be using the kijun sen as resistance. We're very interested in following future price action here, a kumo and swing high break to the upside should send us back to retesting the 0.80400 highs, and as such would turn us bullish on the pair. Conversely, if the pair breaks the recent lows, with kijun resistance and future kumo resistance, we'd be bearish on the pair, looking to attack the triple bottom lows at around the 0.7800 handle.
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